BTC probably going a little bit more down before going...
Analyzing the 4h Chart, I'm expecting BTC to go a little bit more down before gong back on track. As we can see on the chart the bearish candle crossed the first level support at 10200 Line, Major sale signs in that moment. The second element being the EMA 20 and EMA 50 illustrating a 'death cross' as we speak which promise that the price of BTC going to go down a little bit further toward the deep support line (RED support line).
BTC probably going to hit the 9200 zone before going back on track back to the 11K-12K zone. Bellow that deep support line we're looking at really major correction and back to lower levels of BTC around 5K and 6K area.
P-s: This just a humble TA analysis, nothing is 100% accurate in life there's always an element of surprise to keep in your equations.
BTC probably going to hit the 9200 zone before going back on track back to the 11K-12K zone. Bellow that deep support line we're looking at really major correction and back to lower levels of BTC around 5K and 6K area.
P-s: This just a humble TA analysis, nothing is 100% accurate in life there's always an element of surprise to keep in your equations.
Comment:
As expected the EMA 20 crossed down the EMA 50, which confirm BTC going down a little bit more heading toward the Deep Support line 9500. If enough support and enough volume BTC could re-bounce in that specific point and go back up, in the other scenario we could see a longer downtrend toward the 6K levels.
