In my yesterday's analysis, I said that Btc CAN rise to the 40k zone, but traders should not get too excited and this, in fact, is just a correction.
The main crypto didn't even had the power to touch 40k and reversed strongly from 39k, leaving a nice pin bar on our daily chart.
This can be a clear signal that the correction is over and further losses can follow.
At this moment, 35k acts as support and a break here should accelerate losses to 30k figure.
In my opinion, rallies should be sold and as long as 40k resistance is intact my outlook remains bearish
The main crypto didn't even had the power to touch 40k and reversed strongly from 39k, leaving a nice pin bar on our daily chart.
This can be a clear signal that the correction is over and further losses can follow.
At this moment, 35k acts as support and a break here should accelerate losses to 30k figure.
In my opinion, rallies should be sold and as long as 40k resistance is intact my outlook remains bearish
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
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💎Get Funded Up to $1 Million with SabioTrade
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📈 Join the FREE Forex & Gold Channel
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Related publications
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.