BITCOIN- More bears in the way?
Hello everyone
In the past couple of days we had the LUNA incident and the federal reserve news pulling the legs of the market,creating more fear in the market.
For BTCUSDT, we have a rectangle pattern (Range),which at first had some good amount of shadows, in the first bars but now we can see more bars with strong bear bodies.The news and the fear in the market might be taking over, there for I believe with a right amount of price accumulation, we might see lower prices for this asset.
For now,support levels of 26000$ and 28250$ are in the way, with high possibility of breakout of this channel to the lower one and resistance levels are 32000$ and 34000.Lets hope this channel last enough to call it a last flag.
In the past couple of days we had the LUNA incident and the federal reserve news pulling the legs of the market,creating more fear in the market.
For BTCUSDT, we have a rectangle pattern (Range),which at first had some good amount of shadows, in the first bars but now we can see more bars with strong bear bodies.The news and the fear in the market might be taking over, there for I believe with a right amount of price accumulation, we might see lower prices for this asset.
For now,support levels of 26000$ and 28250$ are in the way, with high possibility of breakout of this channel to the lower one and resistance levels are 32000$ and 34000.Lets hope this channel last enough to call it a last flag.
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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.