A. we are testing the key support areas after the $42 000 dump, if we close a 4hr candle below this level it would break the support and possible further downside.
B Bitcoin recently following stock market movements so if that has a bad day this week crypto will most likely suffer along with it but at an excelerated pace .
C. This $49 241 support level is very important to hold if we dont want to see another mini price dump before we eventually continue bull mode. We hae alreadt closed a 4hrly candle below this level, we would like to see atleast a daily close above. A Close below would take us all the way below the $48 000 levels with the next major support being @ $42 000 although there is a chance that the upper $40 000s could provide support but they do not have much trading volume compared to the $42 000 levels.
D. It would be scary to come down below the $42k levels to anyone but the fact is that nobody is ever 100% right on this, ive learnt the hard way not to go all in and always reserve and plan for every single scenario so we arent trapped if things do not go our way.
B Bitcoin recently following stock market movements so if that has a bad day this week crypto will most likely suffer along with it but at an excelerated pace .
C. This $49 241 support level is very important to hold if we dont want to see another mini price dump before we eventually continue bull mode. We hae alreadt closed a 4hrly candle below this level, we would like to see atleast a daily close above. A Close below would take us all the way below the $48 000 levels with the next major support being @ $42 000 although there is a chance that the upper $40 000s could provide support but they do not have much trading volume compared to the $42 000 levels.
D. It would be scary to come down below the $42k levels to anyone but the fact is that nobody is ever 100% right on this, ive learnt the hard way not to go all in and always reserve and plan for every single scenario so we arent trapped if things do not go our way.
Comment:
We pushed back into the $51 000 zone and are now heading down to retest the $49 200 levels once again.
the price in my opinion is showing short term weakness.
the price in my opinion is showing short term weakness.
wave B. $42 000 -$51900
wave C. $51 900 - $40 000
we must not close a day below $49 200, then that will most likely start a chain reaction of bullish momentum if we see the volume is high and stock markets are in the green