Bitcoin (BTC) larger correction coming?
BTC has just taken a >20% drop and hurt a lot of overleveraged longs in the process. Is it done dropping though? Maybe not.
Bearish divergence is clearly visible on the daily chart and is in the process of forming on the weekly chart.
Volume has been declining.
5 and 10 EMAs are about to cross down.
The strongest support on the daily chart is below $42,000
If the price continues to retrace we should expect it to fall to the next key support level, being $38,500 - $41,500.
Do I know what’s going to happen – No.
Is a further drop possible – Sure is.
Should you be prepared for it if it happens – Absolutely.
Happy trading.
Bearish divergence is clearly visible on the daily chart and is in the process of forming on the weekly chart.
Volume has been declining.
5 and 10 EMAs are about to cross down.
The strongest support on the daily chart is below $42,000
If the price continues to retrace we should expect it to fall to the next key support level, being $38,500 - $41,500.
Do I know what’s going to happen – No.
Is a further drop possible – Sure is.
Should you be prepared for it if it happens – Absolutely.
Happy trading.
Regular $100k+ profit daily.
Join my Discord - see ForgeTrades.com for details.
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Get discounted fees here:
ftx.com/
partner.bybit.com/b/Forge
binance.com/en/register?ref=13128793
Join my Discord - see ForgeTrades.com for details.
Follow me on Twitter!
Get discounted fees here:
ftx.com/
partner.bybit.com/b/Forge
binance.com/en/register?ref=13128793
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.
Regular $100k+ profit daily.
Join my Discord - see ForgeTrades.com for details.
Follow me on Twitter!
Get discounted fees here:
ftx.com/
partner.bybit.com/b/Forge
binance.com/en/register?ref=13128793
Join my Discord - see ForgeTrades.com for details.
Follow me on Twitter!
Get discounted fees here:
ftx.com/
partner.bybit.com/b/Forge
binance.com/en/register?ref=13128793
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.