Bitcoin getting ready for another Bearish round
Just when everyone thought the dark days are over for BTC, but doesn't look like it has reached a promising level yet.
Going by the chart, Bitcoin has broken the upward moving trend line and it will now be moving in a descending triangle .
It is crucial that it finds support at the 32K level. Going by the volume profile, it should potentially be able to hold that area.
At an indicator level, Stoch RSI and MACD has are showing Bearish sign and current price have moved below all EMA's.
Ideally, Bitcoin should bounce off the blue zone on the chart, and then break upper part of the triangle.
If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends.
Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks.
Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
Going by the chart, Bitcoin has broken the upward moving trend line and it will now be moving in a descending triangle .
It is crucial that it finds support at the 32K level. Going by the volume profile, it should potentially be able to hold that area.
At an indicator level, Stoch RSI and MACD has are showing Bearish sign and current price have moved below all EMA's.
Ideally, Bitcoin should bounce off the blue zone on the chart, and then break upper part of the triangle.
If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends.
Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks.
Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
