EXCAVO

Bitcoin - large falling wedge

EXCAVO Updated   
BITSTAMP:BTCUSD   Bitcoin
The price on the daily timeframe is moving in a falling wedge. The lower timeframes show downward price compression and liquidity in the $29300-29200 zone. Important next levels and zones: $28850-28650, $28050-28000, $26700. There are many stop-losses of the different caliber of traders behind these levels. There is a high probability that we will harvest it all. It is the road to $20,000. The horizontal volume levels are on the verge of the abyss. Support around $30000 is significant, but if the price breaks through the nearest liquidity zones - the path to $20000 will be almost inevitable, or even lower with some squeeze. After testing $20,000, I expect the price to return to the zone of maximum vertical volume - about $40,000 before the end of 2022.

Best regards,
EXCAVO
Comment:

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.