Bitcoin's price shows a bleak outlook!
Hello to all members of TradingView and my followers.
The price of Bitcoin shows that it is inclined to lower price to collect liquidity and is at the low level of $22,584. This move is likely to be a smart money play that could signal a warning to continue the climb in the future.
By examining the trend in the four-hour time frame, it is evident that over the past five weeks, the trend has consistently made higher ceilings and shows the upward trend in making higher floors well.
But due to the fact that corrective movements have penetrated the previous limits, it is a sign of market uncertainty and fear of higher pricing. Still, despite this fear, the demand has finally prevailed.
The upward trend is established in the four-hour time frame, and technical signs can be trusted. On the path of the ascending channel, the stabilization of the price above the key range of $23,820 - $24,100 is a reliable indication for the beginning of the next upward cycle to the target of the channel ceiling in the price range of $26,600.
Good luck!
The price of Bitcoin shows that it is inclined to lower price to collect liquidity and is at the low level of $22,584. This move is likely to be a smart money play that could signal a warning to continue the climb in the future.
By examining the trend in the four-hour time frame, it is evident that over the past five weeks, the trend has consistently made higher ceilings and shows the upward trend in making higher floors well.
But due to the fact that corrective movements have penetrated the previous limits, it is a sign of market uncertainty and fear of higher pricing. Still, despite this fear, the demand has finally prevailed.
The upward trend is established in the four-hour time frame, and technical signs can be trusted. On the path of the ascending channel, the stabilization of the price above the key range of $23,820 - $24,100 is a reliable indication for the beginning of the next upward cycle to the target of the channel ceiling in the price range of $26,600.
Good luck!
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