- Downtrend Confirmed: The price has been in a strong downtrend since early March 2025.
- Lower Highs & Lower Lows: Classic pattern of a downtrend is visible.
- Wide Bandwidth: Bands widened significantly during the sell-off in early April, indicating high volatility.
- Support Zone Near 38,000: Recent candles show buying interest around the 38,000 level with long wicks and bullish follow-through.
- Bearish Gap Down Area: Large red candles and gapping indicate panic selling and potential resistance near the 41,000–42,000 zone.
- Rejection at the moving average or mid-Bollinger band could lead to another sell-off toward 38,000 or even 36,500.
- Failure to hold above recent lows may confirm continuation of the downtrend.
➀➁➂➃➄
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.
➀➁➂➃➄
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.