Hello all, here is the bitcoin technical analysis right after the weekly candle has closed. Let's make it quick and to the point.
The weekly candle has closed below the white support zone with a huge net volume in negativity. It has dropped for more than 50% comparing to its opening price at the beginning of the last week. This will be a hard time for bitcoin and current crypto market because this is the most biggest drop for bitcoin in 1 week session of trading since the first time this market exist.
Currently the price has broken down the white support but it's still just slightly above the yellow support trend line. We must prepare for the worst time to come with the major support below. Red line is the major support below. The
yellow support trend line has held the price since 2017 and simply this is the 3 years trend line. breaking below it, could be serious.
The weekly candle has closed below the white support zone with a huge net volume in negativity. It has dropped for more than 50% comparing to its opening price at the beginning of the last week. This will be a hard time for bitcoin and current crypto market because this is the most biggest drop for bitcoin in 1 week session of trading since the first time this market exist.
Currently the price has broken down the white support but it's still just slightly above the yellow support trend line. We must prepare for the worst time to come with the major support below. Red line is the major support below. The
yellow support trend line has held the price since 2017 and simply this is the 3 years trend line. breaking below it, could be serious.
