Hello,
Bitcoin doesn't look good. When todays daily candle close below 40 000k then is a bit potential for next drop down.
Next support is around 35-34k, but when this support breaks, then price will go to new low. This low should be around 30k and lower. The gap between 20-26k is still in the game.
For the masive bearish drop is important bigger sell volume, but if you check this volume, you will see the incrasing trend.
The market is tricky now bcs of fundamental news.
It's better to stay out of market and monitoring the situation.
Bitcoin doesn't look good. When todays daily candle close below 40 000k then is a bit potential for next drop down.
Next support is around 35-34k, but when this support breaks, then price will go to new low. This low should be around 30k and lower. The gap between 20-26k is still in the game.
For the masive bearish drop is important bigger sell volume, but if you check this volume, you will see the incrasing trend.
The market is tricky now bcs of fundamental news.
It's better to stay out of market and monitoring the situation.
Let's have a look to bitcoin on daily chart.
BItcoin had daily close on 38k and then was a quite nice bullish reaction.
In case of uptrend price should continue up and never go below this level.
38k - fiboretracement 0,618, strong support level
I am monitoring two scenarios.
Green - price will go back above trendline and go to new high
Red - Price will go for the retest of the trendline and then go to new low.