nowadays we read a lot of essays about the crypto crash, but what does the chart show us?!
I haven't seen any reasons for dump, and all signs illustrate maybe just a correction and the main trend still is bullish. let's check it step by step,
the first reason is the last low touched the flip area that I pointed out on the chart.
the second reason is the last sharp leg experienced a 33% correction. and there is no debt to lower levels:
the second reason is the target of the head and shoulders pattern touched before:
The recent market movements reveal a noteworthy pattern: a head and shoulders formation suggesting a potential change in price direction. The target zone for this pattern is indicated by the blue area. Additionally, the cryptocurrency is following an upward channel. A key observation is the creation of a supply and demand zone along the upper channel line, hinting at a possible breakout. This move appears strategic, aiming to strengthen the market position.
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always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
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@melikatrader94, The adoption rate has skyrocketed compared to last halving. So the buyers seem to be buying up as much as then can invest; especially now that the stocks are not gaining as much as some things like Bitcoin. $81888 next and then up higher.
munawarh971
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can we copy your trades on binance please
munawarh971
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we benefit from your ideas, thanks indt
munawarh971
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top analyst
DownToCryptoTA
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I love your analysis and would like to build upon your theory. By extending the top of the channel to connect with the left shoulder, you'll notice that the price is currently encountering resistance. This aligns with the pivot zone where the price is situated. Additionally, there's a FVG in that price range and a substantial deviation that has the potential to drive the price back down to the bottom of the channel, addressing the imbalance.
Leo-btm
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nicely presented thanks for sharing
ashobathoillah
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it might not be crash but the gap between current and moving average just to big. i would rather catch the retrace in ma than being greedy thinking some people who still dont bullish join in. where the money for bullish coming from ?. smart money still waiting another dip below 40k
melikatrader94
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@ashobathoillah, how do you know the smart money is still waiting?
CC_FX
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Bitcoin up to 44K down to below 35K until the end of February. The whole market will suffer