BTC: RED ALARM!!!
Updated
I may sound foolish but the weekly chart is saying something out loud, guys.
Back in Dec 2017, BTC reached its all time high ($19385) and after that the new year 2018 turned to be a nightmare for BTC. The bear market hit and it continued for 462 days dropping -85% all the way from $19385 to $3128.
Now after BTC, reaching its new all time high of 69k, it is once again dropping down.
Could this be the beginning of the bear market???
The weekly chart is indicating a bearish sign here. I may be wrong but I am not getting good vibes out of this chart.
In a shorter time frame, BTC is holding strong support at 44k and 40k. Breaking these support will possibly drop the price to support 1 ($31500).
I am afraid if this is the bear market then it may continue till Feb 2023 according to the previous analysis.
Be careful with your trades, guys. Try not to leverage trade. Exit major holdings and wait for the right entry to accumulate.
I am all in USD and some ETH to trade on NFTs.
I hope this chart is useful for you guys.
Do like and comment.
Trade safe.
Back in Dec 2017, BTC reached its all time high ($19385) and after that the new year 2018 turned to be a nightmare for BTC. The bear market hit and it continued for 462 days dropping -85% all the way from $19385 to $3128.
Now after BTC, reaching its new all time high of 69k, it is once again dropping down.
Could this be the beginning of the bear market???
The weekly chart is indicating a bearish sign here. I may be wrong but I am not getting good vibes out of this chart.
In a shorter time frame, BTC is holding strong support at 44k and 40k. Breaking these support will possibly drop the price to support 1 ($31500).
I am afraid if this is the bear market then it may continue till Feb 2023 according to the previous analysis.
Be careful with your trades, guys. Try not to leverage trade. Exit major holdings and wait for the right entry to accumulate.
I am all in USD and some ETH to trade on NFTs.
I hope this chart is useful for you guys.
Do like and comment.
Trade safe.
Note
The path has been followed so far.
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.