After meeting heavy resistance at 68 - 69k,
BTC is on a downtrend.
And this makes my prediction correct for now, but this does not mean that the bull movement is completely over.
I still expect some price actions around 66.5k which is the price of the upper (resistance) line of the downtrend - which now works as the support level.
And there's a good chance this might change the tide and start the bullish movement again.
Or the price might just pierce through the level, which would then make the bearish prediction stronger.
My humble piece of advice here would be:
React, not predict.
BTC is on a downtrend.
And this makes my prediction correct for now, but this does not mean that the bull movement is completely over.
I still expect some price actions around 66.5k which is the price of the upper (resistance) line of the downtrend - which now works as the support level.
And there's a good chance this might change the tide and start the bullish movement again.
Or the price might just pierce through the level, which would then make the bearish prediction stronger.
My humble piece of advice here would be:
React, not predict.
Note
We see a downtrend in 1H chart,
possible rebound at 66.5K.
Note
BTC is now in a consolidation period.
Note
After reaching the lower line of the recent uptrend channel,
the price is now bouncing back up.
However, meeting a resistance once again as it reaches the upper line of the downtrend channel. (Though this is just a minor setback)
Note
If the price would reach 66.6k once again,
we might expect some rebound.
Note
BTC 'resisting' the downtrend, rebounding after reaching 65.3k.
Note
Positive news is that TSLA Q4 report shows the company has not sold BTC as its holdings.
God bless you :)
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.
God bless you :)
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.