Bitcoin won't find any support until $18,408 ~ $12,750
I don't believe the selling in Bitcoin and other cryptos is over yet. My research suggests Bitcoin won't find any support until the price reached levels below $18,408 - possibly as low as $12,750.
If you are holding Bitcoin at current levels - take a good hard look at this chart to understand the unwinding of speculative assets ahead of the US Fed potentially raising interest rates to combat inflation may push Bitcoin back to the $9,999 level (or lower) as global traders move away from risks.
Bitcoin has already fallen more than 50k from its peak levels. Are you ready for another 50% decline over the next few weeks?
The global market may attempt to find support if the US Fed pauses on Wednesday, but global central banks are acting on their own to unwind excesses.
Be prepared either way. This Bitcoin chart suggests a 100% Fibonacci price extension move is likely to push price levels below $18,400, and possibly as low as $12,750, very quickly.
Follow my research.
If you are holding Bitcoin at current levels - take a good hard look at this chart to understand the unwinding of speculative assets ahead of the US Fed potentially raising interest rates to combat inflation may push Bitcoin back to the $9,999 level (or lower) as global traders move away from risks.
Bitcoin has already fallen more than 50k from its peak levels. Are you ready for another 50% decline over the next few weeks?
The global market may attempt to find support if the US Fed pauses on Wednesday, but global central banks are acting on their own to unwind excesses.
Be prepared either way. This Bitcoin chart suggests a 100% Fibonacci price extension move is likely to push price levels below $18,400, and possibly as low as $12,750, very quickly.
Follow my research.
Get More Great Research & Tools
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
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.