I know BTC is bleeding bad and today's market shocked everyone. In my previous chart, I was biased on BTC to rally $60k but it went the opposite. Even though I was biased towards the bullish side, I also mentioned that if BTC goes below $53k we will see BTC falling below $50k and it happened. As I am posting this chart, I can see BTC at $36k and it may fall furthermore.
Well, let's look into the chart and study the case. Here is a weekly chart where you can clearly see that BTC has broken 21D MA and fallen pretty badly. Now, the only support we can see in the weekly chart is the 100D MA which is at $19k. Can BTC fall up to that level??? Possible! I know it's shocking but I am saying 'possible' because when BTC reached $50k, we expected a bounce but it didn't. When it reached 21d MA at $46k, we expected a bounce but it fell further. Now BTC has reached $30k which is almost 54% down from the ATH.
Ok, so here's the conclusion, in a longer time frame if BTC continues to fall then get ready cause BTC may touch the $19k to $20k level which will a good area to buy BTC before the bull run.
Remember! We are yet to enter the bull run. Whales and institutional investors are planning something big. So, be ready!
P.S: Welcome to CRYPTO!
Do like, comment, and share my post.
Will be back with another update.
Until then take care and stay safe.
Well, let's look into the chart and study the case. Here is a weekly chart where you can clearly see that BTC has broken 21D MA and fallen pretty badly. Now, the only support we can see in the weekly chart is the 100D MA which is at $19k. Can BTC fall up to that level??? Possible! I know it's shocking but I am saying 'possible' because when BTC reached $50k, we expected a bounce but it didn't. When it reached 21d MA at $46k, we expected a bounce but it fell further. Now BTC has reached $30k which is almost 54% down from the ATH.
Ok, so here's the conclusion, in a longer time frame if BTC continues to fall then get ready cause BTC may touch the $19k to $20k level which will a good area to buy BTC before the bull run.
Remember! We are yet to enter the bull run. Whales and institutional investors are planning something big. So, be ready!
P.S: Welcome to CRYPTO!
Do like, comment, and share my post.
Will be back with another update.
Until then take care and stay safe.