Bitcoin is moving in a downtrend, but at this level, the price of the accumulation phase is forming. Important support is marked on the chart and technically if it range below it for more than a few days, the next step could be $16,000 and $12,000. Looking at the short time frame, we see that it is at the 0.618 Fibonacci level and may be in demand. I'm waiting for confirmation here for an upside and I know that long positions are more risky. The smart money is below $18,800, but if the long positions are removed, Bitcoin is at risk.
The macro economy is still not looking good and this winter may be the crypto winter, on the other hand, there is also the potential for war.
on-chain data also shows the arrival of smart money and the accumulation of whales, as well as countries entering and passing laws for cryptocurrencies.
We must not forget the MT-GOX exchange
The macro economy is still not looking good and this winter may be the crypto winter, on the other hand, there is also the potential for war.
on-chain data also shows the arrival of smart money and the accumulation of whales, as well as countries entering and passing laws for cryptocurrencies.
We must not forget the MT-GOX exchange
Comment:
As you can see there is no volume in the market and we are waiting for market to make a decision