Bitcoin - Will the price continue to fall?
Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information there.✅
Thoughts on the BTC chart
Let's start in order: technical: it is clear that with this decline of 3500 points, the “bulls” are clearly trying to mark their zone. The last two “lows” are in the $40,200 zone, which indicates the interest of a major player in BTC. But there is a feeling that the bears will show their strength, and we will see continued pressure towards stronger support zones, for example, $37,800-$37,100. Last time my intuition was right and we saw a decline (post above about BTC). Let's see how it goes this time.
For now I'm sticking to this plan:
If the buyer shows strength and begins to raise the price again towards the local high of $44.766, I will consider a short position around this zone. If we see continued pressure from the seller, then I will expect the BTC buyout price in the zone of $37,800-$37,100. At the moment I don’t want to gain a position in this middle; I think there are increased risks here.
I closed some alts (I wrote about this above), and left only a few projects:
▪️DYDX +4% (5X)
▪️DOGE +42% (10X)
▪️BNB +12% (10X)
▪️WAX -1.7% (3X)
For now, I remain in the market this way, and if we see a correction, perhaps I will consider other projects to replenish my portfolio. Good luck to everyone and respect the risks
Thoughts on the BTC chart
Let's start in order: technical: it is clear that with this decline of 3500 points, the “bulls” are clearly trying to mark their zone. The last two “lows” are in the $40,200 zone, which indicates the interest of a major player in BTC. But there is a feeling that the bears will show their strength, and we will see continued pressure towards stronger support zones, for example, $37,800-$37,100. Last time my intuition was right and we saw a decline (post above about BTC). Let's see how it goes this time.
For now I'm sticking to this plan:
If the buyer shows strength and begins to raise the price again towards the local high of $44.766, I will consider a short position around this zone. If we see continued pressure from the seller, then I will expect the BTC buyout price in the zone of $37,800-$37,100. At the moment I don’t want to gain a position in this middle; I think there are increased risks here.
I closed some alts (I wrote about this above), and left only a few projects:
▪️DYDX +4% (5X)
▪️DOGE +42% (10X)
▪️BNB +12% (10X)
▪️WAX -1.7% (3X)
For now, I remain in the market this way, and if we see a correction, perhaps I will consider other projects to replenish my portfolio. Good luck to everyone and respect the risks
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.