BITCOIN- Fear in the market
Hello everyone
On daily charts on BTCUSDT, we have bars with long shadows so far but as the fear takes over the market, we can see high volatility taking over, which shows that traders taking positions on both sides of market.As the bear trend continues the trend is getting weaker.It does not mean a reversal may occur( less than 20%).
In lower time frames we can see a wedge pattern is being created but we can get to a lower channel if the fear stays.
For now,we have a main support level on 24000$ and support levels of 26000$ and 28250.Resistance levels are the upper band of our channel resistance level of 30000$ and THE FEAR.
On daily charts on BTCUSDT, we have bars with long shadows so far but as the fear takes over the market, we can see high volatility taking over, which shows that traders taking positions on both sides of market.As the bear trend continues the trend is getting weaker.It does not mean a reversal may occur( less than 20%).
In lower time frames we can see a wedge pattern is being created but we can get to a lower channel if the fear stays.
For now,we have a main support level on 24000$ and support levels of 26000$ and 28250.Resistance levels are the upper band of our channel resistance level of 30000$ and THE FEAR.
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.
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.