Dontsell
BITCOIN Price CRASHES! WHAT NOW?In the last couple of hours, the price of bitcoin has quickly rallied down back to $58,000, at one point reaching $56,800, after not being able to break through a key resistance level that I have drawn using a Pitchfork.
The price quickly rallied up to $59,700 before crashing. This could have been caused for many reasons. It could have been caused by a very quick rise in price that caused the collapse, or a very big volume of bearish orders at that moment. The price has finally caught up and has gone back into previous key positions that allow us to determine its next moves better.
The drop might have been not too big, but amateur traders started selling off there assets too quickly after seeing a small drop in price.
Mind that the price never totally wen out of my graphs and actually bounced off a key support level. It has been retesting a specific Fibonacci level for hours now, but might make a slow rise back to the top starting from now.
This is the best example as to why you should not sell your assets so quickly.
The cycle will continue and BTC will rise back!
Thierry
This analysis is only for educational purposes.
BITCOIN PUMP SIGNALFor the past 12 hours or so, bitcoin has been in a consolidation at the $58K-59.5K Range. We can observe that the past consolidations have only led to bullish breakouts in the price.
The price is again forming a bullish continuation pattern which indicates a high chance of a breakout towards the 60K range.
We can also see that the price is currently facing huge support exactly where two lines of support intersect. Stay updated to see how it plays out.
The two support lines are formed by the median line of a drawn picture and the yellow line is the resistance line of the bullish pattern Since the price broke out of the pattern higher, this highly indicates upwards momentum.
ethereum looks to be climbing to me slowly but surelyas u can see in chart its sticking to the channel i made the smaller one, we are having small dips but we soon recover from them i truly see us rising from here , lets see
