Bitcoin / TetherUSShort
₿ Bitcoin Correction Before Continuation Of Growth ₿
₿ Bitcoin Correction Before Continuation Of Growth
₿ Nearest strong support zone: around the 0.236 level of the upward wave.
₿ Nearest strong resistance zone: around the 0.618 level of the downward wave.
₿ Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend
₿ Price action: looking at Bitcoin's increase in recent days I am impressed, it has beautifully kicked off the levels I have been writing about for the past weeks. After such strong increases amounting to a whole 37% from the bottom, a correction is due, as I don't see any chance of finding new buyers with such a still recently negative sentiment. Bitcoin needs to make a small downward correction if we were to hope for continued increases.
₿ The scenario I'm playing out is the execution of a downward correction followed by a continuation of the increases. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
₿ Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
₿ Nearest strong support zone: around the 0.236 level of the upward wave.
₿ Nearest strong resistance zone: around the 0.618 level of the downward wave.
₿ Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Uptrend
₿ Price action: looking at Bitcoin's increase in recent days I am impressed, it has beautifully kicked off the levels I have been writing about for the past weeks. After such strong increases amounting to a whole 37% from the bottom, a correction is due, as I don't see any chance of finding new buyers with such a still recently negative sentiment. Bitcoin needs to make a small downward correction if we were to hope for continued increases.
₿ The scenario I'm playing out is the execution of a downward correction followed by a continuation of the increases. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
₿ Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
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.