Bitcoin(BTC): Bears Secured Previous ATH Zone
The price of bitcoin has secured a price below the previous ATH zone, where we also formed a nice smaller red hammer candle.
We are expecting some kind of re-test (which is currently happening) to the $70K zone or near that previous ATH zone, and after that, a nice downward movement towards both EMAs and also the middle line of Bollinger Bands.
RSI is showing some cooldown moments, but we still need to secure the current weekly candle in red in order to see further continuity in bearish movement!
Swallow Team
We are expecting some kind of re-test (which is currently happening) to the $70K zone or near that previous ATH zone, and after that, a nice downward movement towards both EMAs and also the middle line of Bollinger Bands.
RSI is showing some cooldown moments, but we still need to secure the current weekly candle in red in order to see further continuity in bearish movement!
Swallow Team
Comment:
Bitcoin reached our first zone of interest near $68K (Actual touch zone was $67,100)
We are not monitoring those EMAs to be re-tested and possibly broken, which would mean a further move to lower zones but if we see a bounce from the re-test, then we will hear about the 69K zone.
As we mentioned earlier, we might see upper zones of $70K zone reached, but this is not a mandatory thing, so keep an eye out for sure!
We are not monitoring those EMAs to be re-tested and possibly broken, which would mean a further move to lower zones but if we see a bounce from the re-test, then we will hear about the 69K zone.
As we mentioned earlier, we might see upper zones of $70K zone reached, but this is not a mandatory thing, so keep an eye out for sure!
Comment:
Bitcoin has had a rejection from the upper resistance zone, yet the price has some difficulty breaking that branch of the EMAs here.
We are now keeping an eye on EMAs and how prices are bouncing from that zone.
Overall, we still wait for further breakdowns to happen and eventually rejection from the upper resistance zone or the current one!
We are now keeping an eye on EMAs and how prices are bouncing from that zone.
Overall, we still wait for further breakdowns to happen and eventually rejection from the upper resistance zone or the current one!
Comment:
Bitcoin has been making great moves since that up-and-down zone re-test, where the price has dropped 6% so far (and we are not finished yet).
We are not keeping an eye on that lower supportive zone, which should see a really good touch and potential breakdown as well!! Keep an eye on that zone!
We are not keeping an eye on that lower supportive zone, which should see a really good touch and potential breakdown as well!! Keep an eye on that zone!
Comment:
And we had a nice touch to that target supportive zone.
Now we have to keep an eye on further moves!
Now we have to keep an eye on further moves!
Comment:
The game has started 😉
The game has started 😉
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We are now looking at those $68– 69K zones where we want to see some kind of rejection happen.
This means we will see some breakouts and breakdowns of EMAs, so keep your heads straight and keep monitoring the movement!!
This week should be an interesting one!