Currently trading - 46 600USD
After 18% dump could come some retracement.
Support - 46 000 - 42 500USD
Resistance - 49 000 - 52 700USD
Why bitcoin dump?
Bcs in market was very low volume and below 47k were many SL and liquidation. What to do in this days?
1) follow the 1D chart and the nearest support = 46000 USD
2) BTC is in bullish trend as long as we are above KEY SUPPORT 41-42000 USD
3) Aggressive dumps - most will predicted an arrow at 16k, but it makes no sense because in this dump the whales did not have time to accumulate shorts. If we are on TOP, the distribution = sideways range will have to start
4) Most likely scenario is triangle in the next 1-2 weeks between 44-50k USD
5) Thanks to today's dump we have a beautifully limited level and conditions for another long = above the trend resistance and the limit of 53k USD we can long anywhere, because we will go to ATH). Until then, it is not necessary to take BTC for a long time.
6) Keep a cool head and analytical approach - monitor higher TF and wait for the situation to calm down. We now have ACTION and we need to see REACTION
After 18% dump could come some retracement.
Support - 46 000 - 42 500USD
Resistance - 49 000 - 52 700USD
Why bitcoin dump?
Bcs in market was very low volume and below 47k were many SL and liquidation. What to do in this days?
1) follow the 1D chart and the nearest support = 46000 USD
2) BTC is in bullish trend as long as we are above KEY SUPPORT 41-42000 USD
3) Aggressive dumps - most will predicted an arrow at 16k, but it makes no sense because in this dump the whales did not have time to accumulate shorts. If we are on TOP, the distribution = sideways range will have to start
4) Most likely scenario is triangle in the next 1-2 weeks between 44-50k USD
5) Thanks to today's dump we have a beautifully limited level and conditions for another long = above the trend resistance and the limit of 53k USD we can long anywhere, because we will go to ATH). Until then, it is not necessary to take BTC for a long time.
6) Keep a cool head and analytical approach - monitor higher TF and wait for the situation to calm down. We now have ACTION and we need to see REACTION
Trade active
Bitcoin 1H chart update. Bitcoin is below bearish trendline. If breaks up then long, if you see bearish reaction on trentline, then short.
Trade active
Bitcoin had break from bearish resistance. On 1H chart is in the range. Still could come some dump. If comes it will be very fast and should go up.Alts are very bullish, so btc should go sideways.
Note
Bitcoin is still in consolidation. The best what you can do i waiting for market reaction and stay out of the market.
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.