TradingView
AlanSantana
Nov 26, 2021 12:24 PM

Bitcoin Very Likely Continue Lower +Targets (Multiple Analysis) Short

BITSTAMP:BTCUSD1D
Bitcoin / U.S. dollarBitstamp

Description

⋅
The Bitcoin discount is now fully live but we are likely to continue lower, based on the chart technicals.

We are having Black Friday and then Cyber Monday Bitcoin Discounts on BTC.

Here let me share with you multiple analysis from earlier this month (the are all bearish):

[Nov 16] I Think We Go Up But Before Up We Go Down! Bitcoin $100,000 Soon


[Nov 18] Do You Think All Hell Is Breaking Loose? Bitcoin Weekly Targets


[Nov 21] Small Cap. Altcoins Move, Bigger Still Correct | New Prediction


[Nov 22] The Descent Continues | $50,000 Followed by $45,000 | Bitcoin


[Nov 23] DXY (US Dollar Index) vs BTC (Bitcoin) | Inverse Relation


[Nov 24] Bitcoin Aims At $50,814 Short-Term + Altcoins Update


[Nov 25 - Yesterday] Bitcoin Bounce? Caution, 3B Options Expire!



Bitcoin Daily Chart Analysis

Today we have prices moving below the EMA100 blue line. This can spell disaster or simply lower prices.

Below EMA100, the next support level is set at around $49,000 - $51,000.

If it goes even lower, we are looking at MA200/EMA300 on the $44,000 to $46,000 price range.

When will Bitcoin recover?
How fast or how much lower can it go, we can know soon after allowing this move to develop.

Closing today below EMA100 would be strongly bearish but if prices recover and close above it things can change.

Meanwhile, we continue aiming lower.

Namaste.

Comment

⋅
Bitcoin's daily candle close below EMA100 ($54,785).
This is a big candle with good volume, giving a strong bearish signal.


For the looks of it, we will have a continuation and another strong bearish candle will show up soon.

Only and break and close above EMA100 can invalidate this scenario.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDaltcoinscryptoCryptocurrency
Comments
WicksAndPips
⋅
Great job on the charts! We roughly have the same idea. Do check mine out (:
peterbhc
⋅
Options completion = Well Done. This has a similar feeling to this same day last year. Price dumped in fashion but then rallied hard for months after. Wonder what will happen? So far 53.3 held which confirms BTC is a 1T asset.
AlanSantana
⋅
@peterbhc, Looks like there will be more.
decenTrader007
⋅
You missed strong trendline at 51k and the previous HH in 1D giving us strong support. I strongly believe this is the dip.
AlanSantana
⋅
@decentPython10759, Fibs. work better than trend-lines. We have to wait and see.
decenTrader007
⋅
@AlanSantanadb if talking about fibs, take fib in 1d and put from the HL to HH (39k to 69K). we are at the golden zone. won't go under 50k:)
AlanSantana
⋅
@decentPython10759, One cannot decide, the market will decide.

It will go to wherever it has to go.
anance
⋅
@AlanSantana, well said.. cheers
Cryptoamin
⋅
The price is in the bottom of daily time frame uptrend channel and near the 100D moving average! I think we are in the reversal area.
AlanSantana
⋅
@Cryptoamin, We have to wait for the daily candle close but this is just getting started.

Only after the day closes and also the weekly candle we get more information.

As of now the bearish just pushed price lower.
Reversal would mean pushing prices higher.
More