Here's a quick look at BTC 4 hr chart. As we can see, the price broke down from the rising channel and went all the way down to 53k where we found some support and bounced. Then the price formed a new descending triangle, and has now broke down from it. The price went down to 50.400$ and found some support and bounced back into the new falling channel. The price has almost tested the upper trendline and we might see a small pullback here. Otherwise if we break the upper trendline, we might get to new ATH!
One thing to keep in mind is that Bitcoin is very correlated to the big stocks, hence if the stocks are down, we should then expect a pullback from bitcoin. However the fear in the market is growing, and we should be cautious trading right now.
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BTC dictates the market. If BTC falls, then Alts will fall as well. BTC needs to get stable before alts can run. Trade safe!
One thing to keep in mind is that Bitcoin is very correlated to the big stocks, hence if the stocks are down, we should then expect a pullback from bitcoin. However the fear in the market is growing, and we should be cautious trading right now.
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. BTC needs to get stable before alts can run. Trade safe!
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BTC updates, altcoin setups, key levels, targets & educational posts.
🎖 Free Telegram: t.me/MBM_786kr
📩 To join Premium: DM @MBM786kr on Telegram
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
🔥 Lifetime Premium Access – $99
BTC updates, altcoin setups, key levels, targets & educational posts.
🎖 Free Telegram: t.me/MBM_786kr
📩 To join Premium: DM @MBM786kr on Telegram
BTC updates, altcoin setups, key levels, targets & educational posts.
🎖 Free Telegram: t.me/MBM_786kr
📩 To join Premium: DM @MBM786kr on Telegram
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.