Bitcoin Correction Seems Inevitable
-cycle of support and resistance followed by retests since January of 2021
-downtrend since early November with a clear resistance
-bitcoin has gapped down past the support level that has been clear since late July
Currently Bitcoin is struggling to move either direction, and a close red would be a sign of bearish continuation.
In the case that Bitcoin poses a reversal the $51904 and and $53461 resistance levels are at and below the descending resistance level.
A retest of this level could continue the downtrend back to the level of $42200 that we saw yesterday (breaking the 5 month long support level)
I suggest averaging down with a small amount when a key level is passed / tested. Good luck to all.
-downtrend since early November with a clear resistance
-bitcoin has gapped down past the support level that has been clear since late July
Currently Bitcoin is struggling to move either direction, and a close red would be a sign of bearish continuation.
In the case that Bitcoin poses a reversal the $51904 and and $53461 resistance levels are at and below the descending resistance level.
A retest of this level could continue the downtrend back to the level of $42200 that we saw yesterday (breaking the 5 month long support level)
I suggest averaging down with a small amount when a key level is passed / tested. Good luck to all.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.