BTC/USDT Binance
4H hollow candlesticks
Fibonacci Retracement Extension shows our main Resistance area.
The Bar Pattern fractal shows possible price movement.
So IF
Price breaks out of:
1. Fibonacci channel Golden Ratio downtrend diagonal line.
2. Trend-Based Fibonacci Extension.
3. Support & Resistance levels.
A New TA is needed.
Low Volume.
Building Stable Support
• Transaction history shows that Bitcoin has formed a stable support floor. Roughly 1,350,194 addresses acquired more than 926,620 BTC at an average price of $29,814.67.
• Bitcoin would have a great chance of rebounding as long as it is able to hold above $29,814.67 because on-chain data reveals no significant resistance ahead.
The most considerable supply wall sits around $34,434.10 where 386,280 addresses hold over 243,403 BTC.
Bitcoin at Crossroads
• At about $30,284.00 on Sunday, May 22nd, Bitcoin continues to consolidate within a tight price range.
• From a technical perspective, a death cross between the 50- and 200-day moving averages developed on BTC’s three-day chart.
Such a bearish formation suggests that despite the probability of a rebound, the gains could be limited to $38,531.60 as Bitcoin’s price grows weaker. A decisive close below $26,828.20 can result in a downswing to $20,732.70.
• On Binance Futures, the BTC/USDT Long/Short Ratio hit 1.91 on May 22nd. Traders remain optimistic about the future price action, as 65.85% of all accounts with an opened position in Bitcoin are net-long.
Bitcoin Price (BTC) = $29,757.43 +1.07%
15.19 ETH +1.57%
Market Cap: $1,266,900,739,826
24h Vol: $71,292,103,641
Dominance: BTC: 44.8%
ETH: 18.7%
Good Luck
#CryptoHellas Team
4H hollow candlesticks
Fibonacci Retracement Extension shows our main Resistance area.
The Bar Pattern fractal shows possible price movement.
So IF
Price breaks out of:
1. Fibonacci channel Golden Ratio downtrend diagonal line.
2. Trend-Based Fibonacci Extension.
3. Support & Resistance levels.
A New TA is needed.
Low Volume.
Building Stable Support
• Transaction history shows that Bitcoin has formed a stable support floor. Roughly 1,350,194 addresses acquired more than 926,620 BTC at an average price of $29,814.67.
• Bitcoin would have a great chance of rebounding as long as it is able to hold above $29,814.67 because on-chain data reveals no significant resistance ahead.
The most considerable supply wall sits around $34,434.10 where 386,280 addresses hold over 243,403 BTC.
Bitcoin at Crossroads
• At about $30,284.00 on Sunday, May 22nd, Bitcoin continues to consolidate within a tight price range.
• From a technical perspective, a death cross between the 50- and 200-day moving averages developed on BTC’s three-day chart.
Such a bearish formation suggests that despite the probability of a rebound, the gains could be limited to $38,531.60 as Bitcoin’s price grows weaker. A decisive close below $26,828.20 can result in a downswing to $20,732.70.
• On Binance Futures, the BTC/USDT Long/Short Ratio hit 1.91 on May 22nd. Traders remain optimistic about the future price action, as 65.85% of all accounts with an opened position in Bitcoin are net-long.
Bitcoin Price (BTC) = $29,757.43 +1.07%
15.19 ETH +1.57%
Market Cap: $1,266,900,739,826
24h Vol: $71,292,103,641
Dominance: BTC: 44.8%
ETH: 18.7%
Good Luck
#CryptoHellas Team
