BitcoinShort
Bitcoin (BTC): Recovered 10% since $50K
Bitcoin is moving nice and sound, and we have had so far a nice 10% recovery since the 50K zone.
For now, we are going to look for weak points and monitor each daily candle to see how they close and open. Overall, we should see another test of 50K but before that, we need to see that weakens as well so keep an eye on the dailys now!
Swallow Team
For now, we are going to look for weak points and monitor each daily candle to see how they close and open. Overall, we should see another test of 50K but before that, we need to see that weakens as well so keep an eye on the dailys now!
Swallow Team
Note
Bitcoin is still showing signs of recovery after we exited the "Extreme Fear" conditions on the Greed & Fear Index.
We are still looking for any signs of weakness to kick in, which would give us another touch of 50K but meanwhile, all we can do is just keep an eye on any point of weakness to form here on a daily or even 4-hour timeframe so eyes wide open!
Note
Bitcoin did a nice small dump, closing yesterday's candle in red, but almost immediately after closing it in red, the next candle made a huge bounce, resulting in a 5% market price movement.
We are already seeing some small signs of weakness and ideally, we should see another red candle of a hammer form from the current daily so keep an eye on that one.
Anytime from here on, we might see some sharp movement!!
Note
What a heavy recovery we had on Bitcoin, with 25% upward movement since that huge selloff we had in the last 7 days.
As we mentioned, there will be a recovery now, and we think that it is time for another downward movement here.
What's interesting is that the last daily candle broke a strong 200EMA but yet it has not been secured so we are eagerly looking at how today's candle will close, as it will determine if we will see a downward movement from here or not!
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🚨 Authentic Mentoring
⚡️ Short-Term + Mid-Term Trades
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FREE: t.me/+fiEDSn7M9pJkODA0
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Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
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.