COINBASE:BTCUSD holds support at 50K, and EXCATLY AS PREDICTED, it tries to go back to test the previous support between 54 to 53K. When we break an old strong support level, we´ve to come back sooner or later to treat that support as a resistance. If BTC couldn´t smash 54K again and trade above it, Well then Welcome In The Bear Market"
If you used to trade BTC and ETH , you don´t need really to analyze both charts, because what happens with BTC, happens also to ETH. I stepped back to watch how would ETH end this battle..
Anything I say, think, or publish on TradingView it´s my own opinion, not a financial advice. I am Crypto Trader and I adore Technical analysis BUT TECHNICAL ANALYSIS DOESN´T...
It´s hard to believe the truth, but as your eyes see a BEARISH DIVERGENCE on WEEKLY chart, and 20 Moving Average at 29K. Don´t ignore as well the stock market, and its impact on BTC price, and how BTC movements effect all Altcoins.
HODL forever is for Non Traders, but YOU ARE A TRADER SO YOU HAVE TO KEEP MOVING AND GET YOUR CASH.
If we could find support at 50K, if the price wants to test it again, and we could break out above 52K, then YOU CAN WISH 58K again. But remember DON´T WISH but wait for a confirmation. Good Luck for everyone!
We get scared when it dumps, and happy when it pumps, but how many of us gives an attention to the consolidation and its new opportunities?
For BTC to dump more than 30% in a bull market I guess it´s pretty normal. Let´s see if BTC and ETH would have another Top while governments keep printing MONEY.
Hey Traders, You can see in the chart that gold moves again with the price up after the bearish movement in the last weekend.
While the market isn't stable yet so short is the best choice until now. Technical analysis works well most of the time but NOW the fundamental plays big role in Forex.
Wish you all the best!