Last Chance for the Bulls to Survive!
Yesterday was pretty bloody day for the Long positions. More than 160kk$ Long positions were liquidated in Bitmex and it is estimated to be the largest amount in 2020. The price of first Cryptocurrency crashed from from 9300$+ to 8500$. 1W chart indicates that we Hit the 8500$ supported by two MA(ma20-ma50) at the same time in 1D chart MA-200 keeps us from falling. Obviously BTC seems quite weak now but chances for Come Back still left. There is little room for doubt that if we break 8500$ we will be in the area of 8250$-8000$ for one BTC. In the Chart I illustrated real chance for rH&S and it seems quite attainable. The right Shoulder could be shortened But it shouldn't be less than 7300$. I can decisively point out that If we break 7280$ we will make a new Low below 6400$.
My Telegram channel where I predicted correction from 9700$ to 9000$ and provided plenty of vital data. Here I share some free signals and my point of view around Cryptocurrency world:tg://join?invite=AAAAAFbm3Hwmej3LdIptNw
My Telegram channel where I predicted correction from 9700$ to 9000$ and provided plenty of vital data. Here I share some free signals and my point of view around Cryptocurrency world:tg://join?invite=AAAAAFbm3Hwmej3LdIptNw
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.