BTC# 37 -- 01/11/2020 Is the correction to $22,000 coming now?!

Hello Together,

Enclosed, as always, is my daily BTC update!

We see since yesterday evening a strong sell-off of the bears. The bulls keep trying to hold against it, but are pushed further and further down by the bears. We have fallen below a key resistance at around $32,890. Unfortunately, we have not yet managed to break back through to the upside (white trend line). Should we make it back above our support area, I expect a small consolidation phase.

Where do we go from here:

In my opinion, we are at a very important level for the BTC price. Either the bulls still manage to get above our trendline by tonight and manage to close a 4h candle above it, or we will be pushed further down. Our next support zone would be around $29,500. If this also does not hold, we will fall to about $22,000-24,000. Here the bulls must then take over the course!

I have no trades open at the moment and keep me on the sidelines. It is very dangerous to trade in such a market structure. We must now be patient and must not rush anything. It may well be that we now 1-2 weeks a larger consilidation put down, if we will test the $ 24,000.

Tonight comes the first part meinens tutorial. Info about it in the signature!

Take care of yourselves!

Your Schueco

P.s.: As always do not forget to liken and follow, so you do not miss anything!