Get started
Kryptochristian

#BTCUPDATE - 3.8.21 NEEDED CORRECTION IN PLAY

Bitcoin / TetherUS (BINANCE:BTCUSDT)  
Kryptochristian  
BINANCE:BTCUSDT   Bitcoin / TetherUS
Trend Analysis Fundamental Analysis Chart Patterns german instituion bounce
10
0
trendanalysis fundamental chartpattern german instituion bounce


I would not see this is particularly bearish movement but more of a needed correction. There could be a bit of manipulation happening to drive market down whilst potentially new German institutions are wanting to come in and play.

We are in a confirmed downward channel and trying to find support - getting back above $35.5k is positive and a pretty key support. Breaking will take us to $37.6k and then onto $36.3k if that doesnt hold.

A bounce here can take us quite quickly up to $40k again.

My play is to wait it out and if losing $37.6k then to short to $36.3k. Breaking up on the $39.3k should lead to $40k.

There is a bullish divergence printed on the 1hr coupled with the Key Support could indicate a strong bullish #bounce here.

Related Ideas

Kryptochristian
#BTCUPDATE - 12.8.21
Kryptochristian
#BTCUPDATE - 2.8.21 CLASSIC SUNDAY BEHAVIOUR
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.