RLinda ! BTCUSD-> FB puts the price back bearish in the channel
Updated
BTCUSD ends the week down 7-8% as sentiment declines due to renewed macroeconomic concerns. The price returns to a downward price channel after a false breakdown and trades in a range of FIBO levels of 0.236 - 0.382
Technical Analysis
Flagship is forming a retest of the lower boundary of the strong resistance area, which starts in the area of the first peak from July 20. The price is not able to break through the sufficiently infected area on the first try and forms a pullback, which brings the price back into the downward price channel
At the moment the price has broken through the Fibo level of 0.236 and is aiming for the area of 0.382.
The liquidity area that the price might be headed to is the area 1900-20600 (there is also the Fibo 0.5 level at 20297, but do not forget about the important 0.618 area at 19362 (there is a chance that the correction might end up around that area)
-A cross of the daily moving averages MA50-MA-200 is forming on the chart
-Volumes are going down
At the moment this movement can be considered as a technical pullback from the resistance area. There was quite a strong growth and the issuer could exhaust the energy for further upward movement.
The panic on the market will start when the price decreases below the 0.5 fibo area and the 20358 level (local low of January 18, 2023).
Regards R. Linda!
- The U.S. Securities and Exchange Commission shut down cryptocurrency exchange Kraken's betting service due to regulatory scrutiny.
- Financial markets were weighed down by increasingly hawkish comments from Federal Reserve speakers in response to recent data that signaled a stubbornly resilient labor market.
- SEC warned investors that crypto investments in some self-regulated IRAs could be unregistered securities.
- Cryptocurrency exchange LocalBitcoins is shutting down after more than 10 years in the wake of a "very cold crypto-winter."
- Cryptocurrency exchange operator Coin Cloud has filed for Chapter 11 bankruptcy protection, and its liabilities are estimated to be up to $500 million.
The company owes more than $100 million to insolvent cryptocurrency lender Genesis, its largest creditor. - Digital Currency Group has begun selling off shares in trusts managed by its Grayscale Investments unit at a steep discount as it seeks to raise funds to pay off debt owed to creditors of its Genesis unit
Technical Analysis
Flagship is forming a retest of the lower boundary of the strong resistance area, which starts in the area of the first peak from July 20. The price is not able to break through the sufficiently infected area on the first try and forms a pullback, which brings the price back into the downward price channel
At the moment the price has broken through the Fibo level of 0.236 and is aiming for the area of 0.382.
The liquidity area that the price might be headed to is the area 1900-20600 (there is also the Fibo 0.5 level at 20297, but do not forget about the important 0.618 area at 19362 (there is a chance that the correction might end up around that area)
-A cross of the daily moving averages MA50-MA-200 is forming on the chart
-Volumes are going down
At the moment this movement can be considered as a technical pullback from the resistance area. There was quite a strong growth and the issuer could exhaust the energy for further upward movement.
The panic on the market will start when the price decreases below the 0.5 fibo area and the 20358 level (local low of January 18, 2023).
Regards R. Linda!
Trade active
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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.