Market Analysis:ACH Coin Breakdown
🔍 Let's dive into today's analysis. The market shows a bearish momentum, and the coin we are analyzing today has the potential for a sharp drop in the 4-hour timeframe.
Bitcoin Analysis
📉 Starting with Bitcoin in the 1-hour timeframe, the support level discussed yesterday has been broken. The price has now reached the trigger at 65197 and may start correcting and resting.
📉 If this trigger is broken, we can move towards the 64429 support, which could be the next target.
📈 Breaking 25.23 in the RSI could bring even more momentum into the market, potentially targeting levels like 63356.
⚠️ A crucial point to note is the significantly increasing selling volume, indicating the strength of the downward trend.
🔻 Overall, I consider Bitcoin's downtrend more likely than an uptrend and will be looking for short positions in the market today.
ACH Coin Analysis
🔍 Now, let's look at the ACH project. I haven't researched it extensively, but I know it's a bridge for converting fiat currencies to crypto. If you'd like a comprehensive analysis of this project, let me know in the comments, and I'll do that for you.
ACH Coin Chart Analysis
📉 As seen on the chart, ACH has experienced a very sharp decline and is moving towards the support at 0.2168. This support is significant as it aligns with the 0.786 Fibonacci level of the 1-day timeframe wave and the 1 fibo extension point, making this area even stronger.
⚠️ However, never underestimate the power of momentum. If the RSI stabilizes below 24.29, the bearish momentum will increase, and we might see lower prices like 0.02034. Therefore, despite the significant drop without a correction, I recommend opening a position with low risk and small volume if the RSI breaks 24.29.
📉 The volume of ACH is also increasing, indicating the strength of the bearish momentum.
Daily Timeframe Quick Check
📅 Lastly, let's quickly check the daily timeframe. As shown, the price is in the 0.707 to 0.786 Fibonacci range. If this range breaks to the downside, the price could even correct to the 0.01761 area.
📝 In conclusion, both Bitcoin and ACH coin are exhibiting strong bearish signals. Bitcoin's support levels and RSI indicators suggest potential further declines, while ACH coin's sharp drop and increasing volume indicate a strong bearish momentum. Caution is advised, and for those looking to open positions, it's crucial to monitor RSI levels and volume indicators closely. Always manage risk appropriately, especially in volatile markets like these.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Bitcoin Analysis
📉 Starting with Bitcoin in the 1-hour timeframe, the support level discussed yesterday has been broken. The price has now reached the trigger at 65197 and may start correcting and resting.
📉 If this trigger is broken, we can move towards the 64429 support, which could be the next target.
📈 Breaking 25.23 in the RSI could bring even more momentum into the market, potentially targeting levels like 63356.
⚠️ A crucial point to note is the significantly increasing selling volume, indicating the strength of the downward trend.
🔻 Overall, I consider Bitcoin's downtrend more likely than an uptrend and will be looking for short positions in the market today.
ACH Coin Analysis
🔍 Now, let's look at the ACH project. I haven't researched it extensively, but I know it's a bridge for converting fiat currencies to crypto. If you'd like a comprehensive analysis of this project, let me know in the comments, and I'll do that for you.
ACH Coin Chart Analysis
📉 As seen on the chart, ACH has experienced a very sharp decline and is moving towards the support at 0.2168. This support is significant as it aligns with the 0.786 Fibonacci level of the 1-day timeframe wave and the 1 fibo extension point, making this area even stronger.
⚠️ However, never underestimate the power of momentum. If the RSI stabilizes below 24.29, the bearish momentum will increase, and we might see lower prices like 0.02034. Therefore, despite the significant drop without a correction, I recommend opening a position with low risk and small volume if the RSI breaks 24.29.
📉 The volume of ACH is also increasing, indicating the strength of the bearish momentum.
Daily Timeframe Quick Check
📅 Lastly, let's quickly check the daily timeframe. As shown, the price is in the 0.707 to 0.786 Fibonacci range. If this range breaks to the downside, the price could even correct to the 0.01761 area.
📝 In conclusion, both Bitcoin and ACH coin are exhibiting strong bearish signals. Bitcoin's support levels and RSI indicators suggest potential further declines, while ACH coin's sharp drop and increasing volume indicate a strong bearish momentum. Caution is advised, and for those looking to open positions, it's crucial to monitor RSI levels and volume indicators closely. Always manage risk appropriately, especially in volatile markets like these.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.