Should we be ready for bear market? - BTC analyse
Updated
Technically:
Price is in strong resistance zone at this price as shown in the picture. Volume is decreasing and MACD is telling us bull weakness and it want to go to zero line
if this happens, first support is MA50(blue one) and second support is MA200(orange one) and the last and the most support is support zone that is shown in chart. But first price should break temporary support line (Red channel).
if this tragedy doesn't happen, and according to Golden Cross (that is good sign of hope for me), price will go higher and will break this strong resistance zone and bull will start again with really good power.
Fundamentally:
After contention between iran and america, and killing gen. Soleymani , BTC actions was as same as Gold actions. completely the same. it means peoples believe that BTC is Safe investment in bad situation in the world. like now that corona-virus is Expanding in the world and many people are dying. gold had strong bullish trend in last few days and i expect it will happen for BTC too. im watching gold price and i expect if gold go more higher (upper 1700$), BTC bull movements will starts as people buy it for safe investing.
Thank you for reading and leave your comments if you like.
Price is in strong resistance zone at this price as shown in the picture. Volume is decreasing and MACD is telling us bull weakness and it want to go to zero line
if this happens, first support is MA50(blue one) and second support is MA200(orange one) and the last and the most support is support zone that is shown in chart. But first price should break temporary support line (Red channel).
if this tragedy doesn't happen, and according to Golden Cross (that is good sign of hope for me), price will go higher and will break this strong resistance zone and bull will start again with really good power.
Fundamentally:
After contention between iran and america, and killing gen. Soleymani , BTC actions was as same as Gold actions. completely the same. it means peoples believe that BTC is Safe investment in bad situation in the world. like now that corona-virus is Expanding in the world and many people are dying. gold had strong bullish trend in last few days and i expect it will happen for BTC too. im watching gold price and i expect if gold go more higher (upper 1700$), BTC bull movements will starts as people buy it for safe investing.
Thank you for reading and leave your comments if you like.
Note
Red channel was broken. we are waiting for MA50 to support
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