EXCAVO

Bitcoin update 3.10.23

COINBASE:BTCUSD   Bitcoin
In this chart I have shown the worst case scenario that could happen.
As we have seen in the last few days, there are fewer traders on the market, bitcoin made +10% and only 77 million dollars liquidated - a very small figure.
But as after this movement, trading volume started to increase, but newcomers and others started buying altcoins....
When reaching the resistance line of the channel, some longs will be closed, and some will even increase shorts, and stop losses will be placed above this channel, logically these stop losses should also be activated. The worst scenario is the one I have indicated with the red line. But I do not exclude that we can start to grow without the last capitulation.

Best Regards EXCAVO

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.