Bitcoin: Bearish Signals with 30 000$ and 20 000$ Targets
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The price broke SMA20 and the bottom line of a triangle chart pattern. It gives us a bearish signal.
If we look at MACD and RSI , we will get additional bearish signals supporting a downward movement toward 30 000$ support and SMA50. The price action at this support will be able to provide interesting buying opportunities.
If the price breaks 30 000$ support, we should be ready to see a downward movement toward 20 000$ and SMA200. The price action at this support will provide amazing buying opportunities.
I don't see any bullish signal right away. It means the market is going to move down or continue the consolidation between 34 000$ and 38 000$.
Crypto bullish enthusiasts, please tell me the reasons why the market has to move to the Moon right away? It is interesting to know what do you think about the current market conditions.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If we look at MACD and RSI , we will get additional bearish signals supporting a downward movement toward 30 000$ support and SMA50. The price action at this support will be able to provide interesting buying opportunities.
If the price breaks 30 000$ support, we should be ready to see a downward movement toward 20 000$ and SMA200. The price action at this support will provide amazing buying opportunities.
I don't see any bullish signal right away. It means the market is going to move down or continue the consolidation between 34 000$ and 38 000$.
Crypto bullish enthusiasts, please tell me the reasons why the market has to move to the Moon right away? It is interesting to know what do you think about the current market conditions.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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Comments
These corrections are healthy for the long term growth and continued bull run. BTC is making good structure on the charts, creating support and resistances, and new trading ranges to build on top of that will help continue it's journey upward & onward. I think this time around, with the world now noticing BTC and crypto in general, we're on the set path upward as more and more general population become investors that buy and store it away in their long term portfolios,-supply and demand will fuel the everlasting growth.