Hello Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- Bitcoin has strongly rejected on 1D time-frame chart its recent bounce back and failed to break the resistance ceiling at 59k - 60k , leverage stops are located around that area, so it is possible we may see a small recovery again to that level despite the high selling pressure volume ( unlikely )
- On 4H time-frame we saw the last 4H candle closing showed enough bearish pressure has developed. We may see retests to 55k - 57k and finally to strong support level 52k-53k ( Fibonacci 0.618 level) also by noticing our non horizontal trend line acting as support which is still holding off the BTC liquidity to make it regain back momentum to the upside( buyers are ready to push the price aggressively ) we need to keep our eyes on the market since volatility is rising.
* Important News *
After scientists identified a new variant of the virus causing Covid-19, countries restricted travel to and from southern Africa. WSJ’s Anna Hirtenstein explains that investors have turned to bonds and gold as they prepare for more potential disruption.
Good Luck Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- Bitcoin has strongly rejected on 1D time-frame chart its recent bounce back and failed to break the resistance ceiling at 59k - 60k , leverage stops are located around that area, so it is possible we may see a small recovery again to that level despite the high selling pressure volume ( unlikely )
- On 4H time-frame we saw the last 4H candle closing showed enough bearish pressure has developed. We may see retests to 55k - 57k and finally to strong support level 52k-53k ( Fibonacci 0.618 level) also by noticing our non horizontal trend line acting as support which is still holding off the BTC liquidity to make it regain back momentum to the upside( buyers are ready to push the price aggressively ) we need to keep our eyes on the market since volatility is rising.
* Important News *
After scientists identified a new variant of the virus causing Covid-19, countries restricted travel to and from southern Africa. WSJ’s Anna Hirtenstein explains that investors have turned to bonds and gold as they prepare for more potential disruption.
Good Luck Traders!