BTC-4h. 38645 can be a big problem for buyers.
Buyers in the BTC market received a rather strong blow. Unsuccessful weekend trading and the uncertain closing of last week's candle provoked a 20% drop in the price of BTC.
Given that the decline was in increased volumes - the probability that the BTC market began to correct the frantic growth trend is high. However, the local wave of growth that began on December 11 has not been broken.
Buyers kept the white trend line and the range of $33,500-34400. If the next 12 hour candle closes above this range - buyers will launch a counterattack. The rise in the price of BTC at reduced volumes and the test mark of $38,640 will be good signals for the continuation of the correction of BTC with a target of $26,200.
P.S. if the global correction of the growth wave has started now, the market will cool down for a long time after such a rally.
If you are interested in a deeper idea about BTC - read our global BTC idea:
Given that the decline was in increased volumes - the probability that the BTC market began to correct the frantic growth trend is high. However, the local wave of growth that began on December 11 has not been broken.
Buyers kept the white trend line and the range of $33,500-34400. If the next 12 hour candle closes above this range - buyers will launch a counterattack. The rise in the price of BTC at reduced volumes and the test mark of $38,640 will be good signals for the continuation of the correction of BTC with a target of $26,200.
P.S. if the global correction of the growth wave has started now, the market will cool down for a long time after such a rally.
If you are interested in a deeper idea about BTC - read our global BTC idea:
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
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.