The crypto-market remained bullish. Some cryptocurrencies outperforming BTC this week. The belief of bulls in the market has shifted from extremely low prices to valuable projects, which in the past has often accompanied the emergence of bull markets.
In the last week, the given support level came into play, and the price rose quickly after touching the support level. It is obvious that the bears have increased last week, and the bulls feel tired. The price has remained within a narrow range, which is quite different from past stage of rebounds.
Conclusion:Mostly fluctuation, and it has high probability of rising than falling after fluctuation. Although the bulls have weakened, the foundation established before is difficult to be reversed by the bears. We think the price is more likely to move with a flatter slope. This week we moved the resistance level to 47700. This is not a level which contains a lot of selling pressure, but it is a guidance for the subsequent trend. And we have retained the support level(44500).
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
In the last week, the given support level came into play, and the price rose quickly after touching the support level. It is obvious that the bears have increased last week, and the bulls feel tired. The price has remained within a narrow range, which is quite different from past stage of rebounds.
Conclusion:Mostly fluctuation, and it has high probability of rising than falling after fluctuation. Although the bulls have weakened, the foundation established before is difficult to be reversed by the bears. We think the price is more likely to move with a flatter slope. This week we moved the resistance level to 47700. This is not a level which contains a lot of selling pressure, but it is a guidance for the subsequent trend. And we have retained the support level(44500).
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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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.
Related publications
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.