The price has almost reached the last static support placed at about 2.56 $, after it there is a gap of 30/50 cents that could be covered in the very short term if the level just mentioned was broken downwards. The main trend, so far, has been reversed: technically the EMA20 and 200 periods on medium / long term tf are above the price and this means that the trend...
After the profit of the previous LONG trade it is advisable to trade this asset in the same way from this level: as long as the support area of the 2.70 $ holds, the trend remains lateral/bullish. The fundamentals elements are in favor of an uptrend as a new wave of cold is expected and this will influence stocks that will drop significantly. The target zone...
I see more and more similarities between
2008's crisis and today. The narrative is nearly the same.
On a smaller time frame we can see an ascending wedge almost breaking out.
I'm short at 2590, expecting 2400, then
I hope for a retracement to 2700 in 2-3months, and then full short :)
What are your thoughts ?
Dear crypto aficionados, friends, lovers, haters, longers and shorters,
the month of may has come, we were expecting the downtrend and here we are. It s like winter and already cooling all the bulls spirits.
Bears with their coat are much much stronger and are defeating the frozen bulls.
Now to the technical, we can see that BTC is still inside a very clear down...
Lest have a global look at the recent bitcoin adventure:
1) Bitcoin parabolic rush, each time with a greater angle of slope
2) Then reached the famous 20k$, and get trapped in a giant rising wedge
3) Beginning of the bearish time, with btc each time declining with lower angle of support (just broke this afternoon)
4) I see a strong support around 7500$
check the market out now
falling harder than the coming blizzards hehe
if candles break into the blue area below and close then we can expect more downward action
bounces will be good buy ins but keep it tight, crazy prices may be over for this year and buying now, u could be stuck for a year!
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