๐ฒ BITCOIN MAY FALL TO 30000. LOOK HERE TO KNOW WHY!
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The trend changed since last fall. the first thing we can notice is that bitcoin formed his first new low since months. this is an important sign that this is the beginning of a bearish trend therefore we should try to find a bearish setup in order to enjoy the next fall.
this level of 55000 level act as a resistance and may be the top of this retracement (new lower high), it add more value to this level since this is a psychological level. From a global point of view: many sellers will look to attack from here and many investors will look to take profit, which will push the price within new lows.
the moving averages turned bearish, which is also adding value to this analysis.
The scenario is pretty credible since bitcoin got a parabolic move at almost 180 degrees, since last year. I think price will form a retest all the way to 30k but nothing certain, now we aim for closer level first(42k)
targets are on chart. First we will take shorts during all the move to 42k. then we will look closely at the price reaction when price will reach 42000, two possibilities:
-price rebounds and therefore a quick buy will be possible
- it breaks it , and from here you can be sure that price will retest 30k
tell me your taughts on the comment section !
this level of 55000 level act as a resistance and may be the top of this retracement (new lower high), it add more value to this level since this is a psychological level. From a global point of view: many sellers will look to attack from here and many investors will look to take profit, which will push the price within new lows.
the moving averages turned bearish, which is also adding value to this analysis.
The scenario is pretty credible since bitcoin got a parabolic move at almost 180 degrees, since last year. I think price will form a retest all the way to 30k but nothing certain, now we aim for closer level first(42k)
targets are on chart. First we will take shorts during all the move to 42k. then we will look closely at the price reaction when price will reach 42000, two possibilities:
-price rebounds and therefore a quick buy will be possible
- it breaks it , and from here you can be sure that price will retest 30k
tell me your taughts on the comment section !
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