Extreme Fear on Bitcoin Street. #Deathcross before another dip?!
Updated
Hey guys! I hope you fine and staying positive during this period.
Since last update, we reduced Bitcoin exposure from 56K breakdown. Bitcoin market continues sloping down despite good news, positive sentiments and fundamentals.
Key level to hold right now is near 47-46K. Seems like if this level is going to fail, price will drop towards 43-39-35K during January-February 2022.
In case of price action breakout from 53K-ish, I think the price will stay in the range of 55-50k for a little while.
Right now is the time to stay on hold with new entries. Being extra careful is a good plan for this short period.
Keep in mind that price action changes quickly, so if we see a positive breakout from 55k, this would mean the price will go back to the rising trend which was developed during 2020.
Best regards
Artem Shevelev
Since last update, we reduced Bitcoin exposure from 56K breakdown. Bitcoin market continues sloping down despite good news, positive sentiments and fundamentals.
Key level to hold right now is near 47-46K. Seems like if this level is going to fail, price will drop towards 43-39-35K during January-February 2022.
In case of price action breakout from 53K-ish, I think the price will stay in the range of 55-50k for a little while.
Right now is the time to stay on hold with new entries. Being extra careful is a good plan for this short period.
Keep in mind that price action changes quickly, so if we see a positive breakout from 55k, this would mean the price will go back to the rising trend which was developed during 2020.
Best regards
Artem Shevelev
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