Hey ,What sup Guys and Girls!?
what about the Bitcoin ?!
Let's start with previous weekly analysis as usual!
after a little rising maybe somebody was happy for change the direction of bitcoin and a green crypto market ,
but I told you guys if the price rises further, the bears will appear again and they start to sell and price will decline again . and we saw after touching first resistance sell-off rally started again .
so today as you can see in this chart bitcoin is trading under the pivot zone , and because of dominant fear in the market may take a long time , and I think after retesting and having pullback under the pivot zone it can even fall on the lower support zone again
and if loses the important support zone it can and maybe even touches the lower price in an immediate impulse move then recover sooner !
but otherwise if bulls be able to overcome the current pivot zone as a resistance it can even reach the first resistance level then decline again from that level , and as you can see in order to have further increase bitcoin must be able to break out both descending trendlines, then continue !
I don't know and probably nobody know also ,how long this winter phase and recession continue and when it will be finished !
Some people maybe say that bitcoin and crypto are doomed and will be diminished ,but as long as the prices of crypto projects decrease , they'll become attractive to buy from bottom again by institutional investor , and they will definitely boom again !
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💜 if you're a fan of my analyses PLZ follow me and give a big thumbs 👍 OR drop comment 🗯💭
- Why has the crypto and stock market massively plummeted in recent weeks !?
what about the Bitcoin ?!
Let's start with previous weekly analysis as usual!
after a little rising maybe somebody was happy for change the direction of bitcoin and a green crypto market ,
so today as you can see in this chart bitcoin is trading under the pivot zone , and because of dominant fear in the market may take a long time , and I think after retesting and having pullback under the pivot zone it can even fall on the lower support zone again
and if loses the important support zone it can and maybe even touches the lower price in an immediate impulse move then recover sooner !
but otherwise if bulls be able to overcome the current pivot zone as a resistance it can even reach the first resistance level then decline again from that level , and as you can see in order to have further increase bitcoin must be able to break out both descending trendlines, then continue !
I don't know and probably nobody know also ,how long this winter phase and recession continue and when it will be finished !
Some people maybe say that bitcoin and crypto are doomed and will be diminished ,but as long as the prices of crypto projects decrease , they'll become attractive to buy from bottom again by institutional investor , and they will definitely boom again !
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💜 if you're a fan of my analyses PLZ follow me and give a big thumbs 👍 OR drop comment 🗯💭
