Hello everyone ..
first of all, this is not a financial advice
it's just a view how i see the market depending on few studies that we have been passed through specially in bitcoin
Fundamentally:
BREAKING: The FTX hacker is selling thousands of ETH and buying wrapped #Bitcoin
Technically:
as we spoke before that we already spotted a symmetrical triangle.
Bitcoin started a fresh decline from the $17,000 and $16,800 resistance levels.
The price is trading below $16,350 area which is the resistance now for the broken symmetrical triangle and a great support line.
There is a key bearish trend line forming with resistance near $16,350 on the 4-hours chart of the BTC/USD pair
The pair could resume its decline below the $15,500 support zone in the near term and might reach the target for the triangle at 1.618 fib levels @ 13800-14000$ areas
The pair also could retest the broken support again in near future @ 15800-16,000 ish areas and decline later to hit the bear flag targets which i expect to 10500-11800 ish areas, and why i expect that >> due to market history specially while people calling the bottom .
Good luck everyone and be careful how to trade it .
and most important thing don't be greedy and fomo about the bottom is there, don't worry you will get your chance when its time ..
first of all, this is not a financial advice
it's just a view how i see the market depending on few studies that we have been passed through specially in bitcoin
Fundamentally:
BREAKING: The FTX hacker is selling thousands of ETH and buying wrapped #Bitcoin
Technically:
as we spoke before that we already spotted a symmetrical triangle.
Bitcoin started a fresh decline from the $17,000 and $16,800 resistance levels.
The price is trading below $16,350 area which is the resistance now for the broken symmetrical triangle and a great support line.
There is a key bearish trend line forming with resistance near $16,350 on the 4-hours chart of the BTC/USD pair
The pair could resume its decline below the $15,500 support zone in the near term and might reach the target for the triangle at 1.618 fib levels @ 13800-14000$ areas
The pair also could retest the broken support again in near future @ 15800-16,000 ish areas and decline later to hit the bear flag targets which i expect to 10500-11800 ish areas, and why i expect that >> due to market history specially while people calling the bottom .
Good luck everyone and be careful how to trade it .
and most important thing don't be greedy and fomo about the bottom is there, don't worry you will get your chance when its time ..