Bitcoin dropping under 20.000$/Btc regression trend
Bitcoin made strong moves in very brief time frame, while rest of the market almost didn't made any kind of serious move.
Having that said and the manifest in price mechanism (80% gain from previous low), in practice 15.500$---->29.200$, didn't made a correction (it fell from 25200 to 19.500$ and regained instantly), which is not considered healthy price building and that's the thing people should pay attention at in order not to buy on top (near 30.000$ resistance mark), but during retrace as marked on the chart.
It didn't even touched 30.000$ mark, neither retested 20.000$ mark, only pierced it once, changed direction and regained instantly.
Even if Btc touches 30.000$ mark and eventually pierces it, don't be naive to buy on very top, wait for retrace, for long red candles.
Subbing 20.000$ is a must.
I would conclude that 17.500$ as price mark on Bitcoin seems very reasonable as strong retest of 20.000$ trend line in order to breach higher levels (30.000$)
Also, further strengthening of us dollar will affect BTC to retrace (USD gained in parity EUR:USD from 0.95----1.10) and now it's time to retrace to approximately 1:1 parity, then it will weaken again.
Weekly MACD berish.
1W StochRSI peaked (near 100)
During April and in the upcoming weeks i do expect to see serious retrace.
First target should be subbing 25.000$ because as per outlook BTC is struggling even now to maintain this 28.000$ price.
Good luck and thanks for reading.
Having that said and the manifest in price mechanism (80% gain from previous low), in practice 15.500$---->29.200$, didn't made a correction (it fell from 25200 to 19.500$ and regained instantly), which is not considered healthy price building and that's the thing people should pay attention at in order not to buy on top (near 30.000$ resistance mark), but during retrace as marked on the chart.
It didn't even touched 30.000$ mark, neither retested 20.000$ mark, only pierced it once, changed direction and regained instantly.
Even if Btc touches 30.000$ mark and eventually pierces it, don't be naive to buy on very top, wait for retrace, for long red candles.
Subbing 20.000$ is a must.
I would conclude that 17.500$ as price mark on Bitcoin seems very reasonable as strong retest of 20.000$ trend line in order to breach higher levels (30.000$)
Also, further strengthening of us dollar will affect BTC to retrace (USD gained in parity EUR:USD from 0.95----1.10) and now it's time to retrace to approximately 1:1 parity, then it will weaken again.
Weekly MACD berish.
1W StochRSI peaked (near 100)
During April and in the upcoming weeks i do expect to see serious retrace.
First target should be subbing 25.000$ because as per outlook BTC is struggling even now to maintain this 28.000$ price.
Good luck and thanks for reading.
Trade active:
Please be aware that further tendency bullish movement of DXY (index of US dollar) will drop this levitating Bitcoin price in any moment.
Don't open longs, either cash out your position and re open it at 25200 or open short.
Bitcoin can't and won't grow at this point.
Don't listen to influencer and bed time stories " Bitcoin to the moon" because it's gonna drop.
Don't open longs, either cash out your position and re open it at 25200 or open short.
Bitcoin can't and won't grow at this point.
Don't listen to influencer and bed time stories " Bitcoin to the moon" because it's gonna drop.
