BTCUSD is telling us a few different things right now and we are likely at a major turning point.
The current daily candle is right at the daily kijun/tenkan-sen, giving us a bearish signal if the price closes below them - but a bullish signal if we close above them. Yet we're still above a fairly thick bullish cloud, so it's rather early to say that the immediate trend has turned bearish .
We're also approaching the .618 fib level, which from past performance in the crypto bear market has been a solid tool to spot a major resistance.
IF we turn bearish here or at the .618 fib level, a H&S pattern will form and we will likely go down to test the 4200 horizontal support/resistance level. If that breaks there's the weekly 200ma at around 3.6k~ right now.
IF we remain bullish we will likely not break the 5800-6000 area, but if we do then that might be the end of the bear market.
The current daily candle is right at the daily kijun/tenkan-sen, giving us a bearish signal if the price closes below them - but a bullish signal if we close above them. Yet we're still above a fairly thick bullish cloud, so it's rather early to say that the immediate trend has turned bearish .
We're also approaching the .618 fib level, which from past performance in the crypto bear market has been a solid tool to spot a major resistance.
IF we turn bearish here or at the .618 fib level, a H&S pattern will form and we will likely go down to test the 4200 horizontal support/resistance level. If that breaks there's the weekly 200ma at around 3.6k~ right now.
IF we remain bullish we will likely not break the 5800-6000 area, but if we do then that might be the end of the bear market.
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.
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.