bull channel in a bear market!
Hello everyone
As we witnessed, the support level of 41200$ didn't make it and and turned into our resistance level and we had a bearish spike under 40000$ support level , volume held the price pretty well and considering that the 38000$ level is a nifty one,and the candles in higher time frames ( weekly & monthly) show a bright future for the holders.
But in 4 hours cheat, after about 12 days of bear market (red channel), now we have a bull channel ( blue channel), and as I'm analysing right now , I can see candles with long shadows, which means that not bears nor bulls having any activity right now.This usually happens when market is waiting for a news or a big buy.
For those who fancy the investment option this might be a good opportunity to buy ( this is not a financial suggestion, this is my simple opinion).
As we witnessed, the support level of 41200$ didn't make it and and turned into our resistance level and we had a bearish spike under 40000$ support level , volume held the price pretty well and considering that the 38000$ level is a nifty one,and the candles in higher time frames ( weekly & monthly) show a bright future for the holders.
But in 4 hours cheat, after about 12 days of bear market (red channel), now we have a bull channel ( blue channel), and as I'm analysing right now , I can see candles with long shadows, which means that not bears nor bulls having any activity right now.This usually happens when market is waiting for a news or a big buy.
For those who fancy the investment option this might be a good opportunity to buy ( this is not a financial suggestion, this is my simple opinion).
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