Hello Guys,
Before I get dipper into my analysis I just want to say that I believe we are in a bull market and I am BITCOIN believer & HODLER. However, we might be dealing with a corrective wave and be in a small bearish trend, but let me explain it.
In my previous
BTCUSDT
analysis I was very bearish, but since then we had a bounce back that invalidated my analysis. Now we had another drop that my indicate continuation of a downtrend... or does it?
You see on 4h chart we have a sign of small bullish momentum building. From this point, we can truly go either direction (down or up) this is why I suggest staying away from trading BTC until we get a clearer picture.
I have identify current support/resistance levels.
Breaching $12,000+ range could start another move up
Breaching $10,800 range could start another move down
I personally stay way from trading BTC at the moment, and I am waiting for a confirmation from either side.
Before I get dipper into my analysis I just want to say that I believe we are in a bull market and I am BITCOIN believer & HODLER. However, we might be dealing with a corrective wave and be in a small bearish trend, but let me explain it.
In my previous
BTCUSDT
analysis I was very bearish, but since then we had a bounce back that invalidated my analysis. Now we had another drop that my indicate continuation of a downtrend... or does it? You see on 4h chart we have a sign of small bullish momentum building. From this point, we can truly go either direction (down or up) this is why I suggest staying away from trading BTC until we get a clearer picture.
I have identify current support/resistance levels.
Breaching $12,000+ range could start another move up
Breaching $10,800 range could start another move down
I personally stay way from trading BTC at the moment, and I am waiting for a confirmation from either side.