BTC 4H 1W 1M Be careful, it will shake a lot on the weekend

28 Nov 2020

Hello, while the majority writes that the longists have been knocked out of their positions, and it is time for the market to grow further, we will try to give several alternative scenarios based on our global idea.

The weekend should be volatile and impulsive, so fasten your seat belts.

The chart shows 4H, 1W and 1M timeframes.

Buyers need to fix the price above $17,250 today in order to cover the fall that happened a few days ago. Until the end of the week, it is advisable to raise the price to the level $18,500 so that the weekly candle loses its bearish character.

If sellers manage to fix the price below $16,700, then they will start to press down much more strongly.
The close of the weekly candle at $15,150 will form Bearish Engulfing reversal pattern and will serve as a strong signal to close long positions for big money.

And on Monday the monthly candle closes. Closing the monthly candle in the zone $14,600-15,150 will form another reversal pattern - the Pinbar.

Each side must bet a lot to win in the next two days, because the trading future for the coming weeks, if not months, will depend on it.

We also recommend paying attention to dominance. According to what we see, capitalization does not flow from Bitcoin to Altcoins.
Now only USDT dominates. That is, from BTC or from ALT transfer to fiat.
Therefore, purely hypothetically, if Bitcoin starts to fall, then Altcoins will support the fall with even greater intensity.

Don't trade illusions, but follow the trend.

29 Nov 2020

Dagangan aktif

If there are sellers on the market and they have the target of the BTC price lowering, then they should be active in the zone $18,200-18,600.
Be careful!