Hello Traders
In last post we noticed and evaluated some bearish signs in #BTC. afterward price broke the 51500 resistance but couldn't hold itself above it and then crashed (I believe that was a big trap just like when #BTC broke below 30K!).
Right now we are in a crucial zone!!! WHY?
Price had been caught between 2 support zones (46500 & 44500) for a few days then broke MA 200 days and in last 3 days despite of upward pushes couldn't go above it (bearish sign).
after crash volume is rising (despite of former upward movement). it can be a result of panic selling or a fresh downward momentum(bearish sign).
furthermore MA 50 days is getting close to MA 200 days. a cross between them can create #golden cross or #death cross.
also we can see weakness in upward momentums.
last fake news about litecoin can affect the community and market(might be P&D scheme).
Actually I believe we are in "NO TRADE ZONE".
But we have 2 scenarios:
Scenario #1: Price will get momentum and break above MA200 and resistance zones( green arrows).then we can go higher if price sustain above resistance zones (may be 56K).
I assume 20% -35% possibility for this scenario.
Scenario #2: Price will get a rejection in 45900-46500 and drop down which means we can go lower(red arrows). in this case we should consider CME GAP in 32000-34600.
I assume 65%-80% possibility for this scenario.
We just need to be patient.
Thanks for reading
In last post we noticed and evaluated some bearish signs in #BTC. afterward price broke the 51500 resistance but couldn't hold itself above it and then crashed (I believe that was a big trap just like when #BTC broke below 30K!).
Right now we are in a crucial zone!!! WHY?
Price had been caught between 2 support zones (46500 & 44500) for a few days then broke MA 200 days and in last 3 days despite of upward pushes couldn't go above it (bearish sign).
after crash volume is rising (despite of former upward movement). it can be a result of panic selling or a fresh downward momentum(bearish sign).
furthermore MA 50 days is getting close to MA 200 days. a cross between them can create #golden cross or #death cross.
also we can see weakness in upward momentums.
last fake news about litecoin can affect the community and market(might be P&D scheme).
Actually I believe we are in "NO TRADE ZONE".
But we have 2 scenarios:
Scenario #1: Price will get momentum and break above MA200 and resistance zones( green arrows).then we can go higher if price sustain above resistance zones (may be 56K).
I assume 20% -35% possibility for this scenario.
Scenario #2: Price will get a rejection in 45900-46500 and drop down which means we can go lower(red arrows). in this case we should consider CME GAP in 32000-34600.
I assume 65%-80% possibility for this scenario.
We just need to be patient.
Thanks for reading
