Downside Continuation for Bitcoin !
Updated
Is Bitcoin headed for further downside from here plunging ALTS while it's Dominance Rallies High, or will it find support on the aquamarines key-levels to continue higher?
The price label of 49K, it's a strong Support Trendline [Dark Green Trendline] coming from as far below of 20k Levels, and has been acting as Critical Support on the Bitcoin's Rally so far having a peak at 65K.
Watch out in case that Green Bolded Trendline breaks and Fails to provide support, in that case scenario the downside is about to get worsen.
It's worth mentioning what we have mentioned for Months on previous Released Ideas, that the Markets overall are SUPER-HEATED, and the reason why Bitcoin is going down now is due to DXY rallying HIGH after Plunging for a Year now, while Dow Jones, Nasdaq, Stocks and Precious Metals bleed when the Dollar Index continues to rally for its history.
Middle-East is also in critical conditions with what's going on in Palestine, Covid still not on total control especially in India where 50% of Vaccines are created.
Trade without your emotions and consider taking profits to re-gain position and own more by buying at lower areas as investment opportunities.
TRADE SAFE !
-Note that this is not Financial Advice!
Before partaking on any trading activities based upon this idea, you should do your own research with your own diligence.
The price label of 49K, it's a strong Support Trendline [Dark Green Trendline] coming from as far below of 20k Levels, and has been acting as Critical Support on the Bitcoin's Rally so far having a peak at 65K.
Watch out in case that Green Bolded Trendline breaks and Fails to provide support, in that case scenario the downside is about to get worsen.
It's worth mentioning what we have mentioned for Months on previous Released Ideas, that the Markets overall are SUPER-HEATED, and the reason why Bitcoin is going down now is due to DXY rallying HIGH after Plunging for a Year now, while Dow Jones, Nasdaq, Stocks and Precious Metals bleed when the Dollar Index continues to rally for its history.
Middle-East is also in critical conditions with what's going on in Palestine, Covid still not on total control especially in India where 50% of Vaccines are created.
Trade without your emotions and consider taking profits to re-gain position and own more by buying at lower areas as investment opportunities.
TRADE SAFE !
-Note that this is not Financial Advice!
Before partaking on any trading activities based upon this idea, you should do your own research with your own diligence.
Comment
DXY- Dollar Index - Bigger Picture
Comment
Bitcoin Dominance to refer knowing where the ALTS will go[Daily Time-Frame]
Rings with price labels are acting as Support-Resistance, while on the left you can spott also horizontal key-levels on colours of yellow and aquamarine
Comment
Bitcoin testing the 20WeekMA on the Weekly
Comment
Note that BTC.D wicked almost perfectly at the purple ring and found support on purple ring also the crossing blue fibb circle.
Has BTC.D already put an end to the Huge Bottom it has experienced these last 2-3 months?
I think so. However that is yet to be seen and confirmation.
TRADE SAFE
Comment
Is 47K per BITCOIN incoming in the short-term?
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.