The final extension of the retrace, or correction?, is now underway. We can call it a correction because it has been going for more than three weeks and the strength is quite enough. Bitcoin is bearish but the bullish bias, local uptrend and chart structure continues intact.
There is room/space for Bitcoin to move all the way down to $60,001 and even wick below this level before the bullish structure becomes compromised. Do you think Bitcoin will move below $60,000 in the coming days or weeks? What about in the coming months?
The daily RSI is already moving within oversold territory. Once it becomes red, a reversal tends to happen. The stochastic is also moving within oversold territory. The MACD entered the bearish zone and can move much lower. Only the MACD looks pretty bad.
Conditions are mixed, good? Conditions support additional bearish action.
Bitcoin can continue dropping for one day or two, for several weeks... Who knows. Based on what is happening across the rest of the market, this corrective move will result in a higher low.
After the higher low, Bitcoin is set to move to reach a price tag of $100,000. The first resistance can be found at 80K. Support has been mentioned in a previous article.
Thanks a lot for your continued support.
Namaste.
There is room/space for Bitcoin to move all the way down to $60,001 and even wick below this level before the bullish structure becomes compromised. Do you think Bitcoin will move below $60,000 in the coming days or weeks? What about in the coming months?
The daily RSI is already moving within oversold territory. Once it becomes red, a reversal tends to happen. The stochastic is also moving within oversold territory. The MACD entered the bearish zone and can move much lower. Only the MACD looks pretty bad.
Conditions are mixed, good? Conditions support additional bearish action.
Bitcoin can continue dropping for one day or two, for several weeks... Who knows. Based on what is happening across the rest of the market, this corrective move will result in a higher low.
After the higher low, Bitcoin is set to move to reach a price tag of $100,000. The first resistance can be found at 80K. Support has been mentioned in a previous article.
Thanks a lot for your continued support.
Namaste.
Nota
Bitcoin can easily due a prolonged period of sideways as the energy moves to the altcoins. Bitcoin sideways while the altcoins recover.Trade attivo
Bitcoin is now close to $68,700, the next support. If this level breaks on a challenge, the last range before the 6-Feb low becomes active. That is, $64,900 - $68,000 ($62,000 is also relevant). This is where we look to an end of the correction and a higher low.Consider the altcoins and how these are moving higher while Bitcoin drops. We are in uncharted territory. See this article:
This is happening to many projects right now. I will publish a few more in profile this morning. Make sure to follow. Moving higher while Bitcoin moves lower. Staying at support while Bitcoin crashes. Bullish Crypto. Bullish Altcoins. Means a higher low.
Namaste.
Nota
People are using their Bitcoins to buy altcoins. Nice call.Trade chiuso: obiettivo raggiunto
The correction is over. We can now expect sustained long-term growth ending with a higher high.Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.