Bitcoin at the resistance of the downtrend of recent days
#BTC 4h
The area below 3500 forms the ground for a rebound, higher minimums show a positive signal for the market and if we manage to overcome the resistance of a downtrend, then we should expect a more bullish pattern of price movement. At the moment, the recent lows around 3200-3300 show good support, but there are still no exact signs of a reversal, although we are clearly close to this. Be careful and watch the market, a breakdown of downtrend resistance can be quite impulsive, but in case of failure, Bitcoin can easily go lower. In the case of a positive potential to reach 5000 is still relevant.
The area below 3500 forms the ground for a rebound, higher minimums show a positive signal for the market and if we manage to overcome the resistance of a downtrend, then we should expect a more bullish pattern of price movement. At the moment, the recent lows around 3200-3300 show good support, but there are still no exact signs of a reversal, although we are clearly close to this. Be careful and watch the market, a breakdown of downtrend resistance can be quite impulsive, but in case of failure, Bitcoin can easily go lower. In the case of a positive potential to reach 5000 is still relevant.
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#BTC 1h
As suggested a little earlier, got a very impulsive breakdown. To maintain further positive, we need to fix above the local resistance of 3640, but do not forget about the weighty probability of correcting the resulting breakdown. Support is indicated on the chart, the market should not go below the trend lines, if this happens, then further on the market a bearish character may already prevail.
#BTC 1h
As suggested a little earlier, got a very impulsive breakdown. To maintain further positive, we need to fix above the local resistance of 3640, but do not forget about the weighty probability of correcting the resulting breakdown. Support is indicated on the chart, the market should not go below the trend lines, if this happens, then further on the market a bearish character may already prevail.
Comment:
But considering the negative scenario: if the nearest support area is broken, then we will go down to 3200, which corresponds to the recent minimum with the downtrend intersection of the last month, a breakdown of this zone will be a very bad signal and further 3000 test will be very likely. Bottom line: even in the case of a good rebound with a subsequent growth, the market has further greater chances to get closer to the 3000 mark again.
#BTC
We continue to decline. Globally moving down the market is serious, we will test the 3000 mark either now (in the medium term) or later (in the long term). At the moment, we are approaching the first important support area, the lower edge of the channel can hold the price, and the resulting rebound will make the market more bullish for some time, further growth may follow to resistance 3640, and its breakdown will extend growth to the next resistance range of 3800-3900 . Large scale indicators are bullish, which in the current situation provides a good opportunity for a positive scenario for a while.