In the previous BTC UPDATE we told you that the price should face a correction after trade above $10060 and after the correction downtrend might continue.
Now we can see this logical correction after big dump. The spread was inside a huge triangle, where the price tried to break out several times, but then broke down the support. We could see bulls weakness, when they tried to pull the price higher with high volumes - and with no success.
Bears were stronger, so they managed to break the support and change the trend to downward. In case $10060 level is broken, BTC will dump further, otherwise we can see new flat market at $10270 - $10300 level or even new upward movement. During the dump $50M were liquidated, that's a nice chance to open big long position.
Right now the priority is downward. If BTC bounces back to $10300, the downtrend can be broken.
Now we can see this logical correction after big dump. The spread was inside a huge triangle, where the price tried to break out several times, but then broke down the support. We could see bulls weakness, when they tried to pull the price higher with high volumes - and with no success.
Bears were stronger, so they managed to break the support and change the trend to downward. In case $10060 level is broken, BTC will dump further, otherwise we can see new flat market at $10270 - $10300 level or even new upward movement. During the dump $50M were liquidated, that's a nice chance to open big long position.
Right now the priority is downward. If BTC bounces back to $10300, the downtrend can be broken.
Nota
At the moment it looks like a false breakdown.
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Klondike Official Links:
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.