🔥 Bitcoin Can Fall Further: No Danger For Bulls, Yet
In yesterday's Bitcoin analysis I talked about the daily bearish divergence on the BTC chart. The divergence is not yet a signal to short, but it's showing some cracks in the trend that we're currently trading in. Take a look below.
In this analysis I want to explore Bitcoin's possibilities in case we're actually going to see a bearish period.
In my view, BTC will stay longer-term bullish as long as we trade above the dotted purple resistance. So, there's no reason for long-term bears to celebrate as long as this line is holding.
With stocks showing signs of weakness, there's a possibility for more bearish price action over the next two weeks. Which can, potentially, take us down towards the dotted support.
Consequentially, opening a long from said support is definitely something I'm looking for.
In this analysis I want to explore Bitcoin's possibilities in case we're actually going to see a bearish period.
In my view, BTC will stay longer-term bullish as long as we trade above the dotted purple resistance. So, there's no reason for long-term bears to celebrate as long as this line is holding.
With stocks showing signs of weakness, there's a possibility for more bearish price action over the next two weeks. Which can, potentially, take us down towards the dotted support.
Consequentially, opening a long from said support is definitely something I'm looking for.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
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.