Hello my friends.
In such kind of situation, all we are wondering where is the bottom,
if we bottomed etc.
In my opinion, looking on Weekly time frame, we did not bottomed yet.
First of all, we have an extremely bearish candle at the moment.
If this candle close weekly like it is now, we will speak about a bearish engulfing and
correction continuation.
21 Weekly moving average and 34 Weekly moving average, are the supports which are
agreeing with the existing patterns and the main macro trend from 28700.
I am mentioning the BUY AREAS and also the areas which are indicating end of bull cycle.
In my opinion, I expect Bitcoin to Bounce between 21 and 34 Weekly moving average. (48000 - 52000)
Your comments are appreciated.
Have a nice day and good luck with your choices.
In such kind of situation, all we are wondering where is the bottom,
if we bottomed etc.
In my opinion, looking on Weekly time frame, we did not bottomed yet.
First of all, we have an extremely bearish candle at the moment.
If this candle close weekly like it is now, we will speak about a bearish engulfing and
correction continuation.
21 Weekly moving average and 34 Weekly moving average, are the supports which are
agreeing with the existing patterns and the main macro trend from 28700.
I am mentioning the BUY AREAS and also the areas which are indicating end of bull cycle.
In my opinion, I expect Bitcoin to Bounce between 21 and 34 Weekly moving average. (48000 - 52000)
Your comments are appreciated.
Have a nice day and good luck with your choices.
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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.
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.