Bitcoin's next move - moon to 60? Or dump to 30?
Aktualisiert
Given the fact that we have good historical data for this price range, the key S/R levels are already known. With what appears to be a lot of accumulation going on this week, what will happen next?
This analysis looks at what appears to be a slightly descending channel which has resulted in a lot of chop. The big drop preceding brought with it a lot of liqs and there may be many that are hesitant to enter a position in this range. This range is definitely worth waiting for confirmation of continuation or reversal.
I feel like it will be hard to break 50, let alone 52 before testing the 44-45 level again. If the 44 level is broken, I expect high chances that it will continue to drop with probably a DCB at 40k.
Be very careful when trading this range as there are a lot of unknowns. I would advise against alts until we know which direction as alts get rekt when BTC moves even a little bit in a downwards continuation. The first opportunity I would look at alts would be if it breaks 50 and can turn 50 from resistance into support. You will probably pay a bit of a premium because people will likely jump in at high 48 or 49, but it's not worth the risk.
This analysis looks at what appears to be a slightly descending channel which has resulted in a lot of chop. The big drop preceding brought with it a lot of liqs and there may be many that are hesitant to enter a position in this range. This range is definitely worth waiting for confirmation of continuation or reversal.
I feel like it will be hard to break 50, let alone 52 before testing the 44-45 level again. If the 44 level is broken, I expect high chances that it will continue to drop with probably a DCB at 40k.
Be very careful when trading this range as there are a lot of unknowns. I would advise against alts until we know which direction as alts get rekt when BTC moves even a little bit in a downwards continuation. The first opportunity I would look at alts would be if it breaks 50 and can turn 50 from resistance into support. You will probably pay a bit of a premium because people will likely jump in at high 48 or 49, but it's not worth the risk.
Anmerkung
Looks to be right on track!
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.