Daily chart of BITCOIN looks scary!
In addition to divergence indicators, BTC lost all supports, from oblique support-lines (dotted black lines) to MA21 plus MA50, and now is breaking down the support of its ascending channel which held the lower price for over 3 months!
If the daily candle closes below the ascending support ... OH DEAR LORD ... the next stop will be 48K (1.618 FIBO) and if not get enough support, will retest the local horizontal support at 45K. So be very cautious and alert about your positions. It's better not to open any positions at all within couple of days or so ...
Trade Safe
In addition to divergence indicators, BTC lost all supports, from oblique support-lines (dotted black lines) to MA21 plus MA50, and now is breaking down the support of its ascending channel which held the lower price for over 3 months!
If the daily candle closes below the ascending support ... OH DEAR LORD ... the next stop will be 48K (1.618 FIBO) and if not get enough support, will retest the local horizontal support at 45K. So be very cautious and alert about your positions. It's better not to open any positions at all within couple of days or so ...
Trade Safe
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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.