is Bitcoin headin down ?! where is the next stop?!
Updated
we have FED meeting on 21 September and we expect rising rate from 0.5 to 0.75 which will effect a lot on economy and markets.
these days fundamentals are not good for BTC and smarts money are going away from cryptocurrency!
RSI is low , volume decreased and price couldn't hold up 22k level!
so here is the main support areas and i don't want to predict the next move until i see some sign and confirmation on these levels.
if the 19k level can hold it 3 4 days after the meeting and RSI remain above level 30 on 1d time frame ,we can see 22-22500k very quickly .
if the price goes lower and local support zone can hold it ,i expect a few weeks range from 17k to 19k then rising up which is the most possible scenario if any unexpected things like new WAR not going to happen.
if the local support area can not hold the price , then 15-14k is in play which will be the bottom of this bear Cycle in my opinion!
I AM going LONG from 15k for sure .
these days fundamentals are not good for BTC and smarts money are going away from cryptocurrency!
RSI is low , volume decreased and price couldn't hold up 22k level!
so here is the main support areas and i don't want to predict the next move until i see some sign and confirmation on these levels.
if the 19k level can hold it 3 4 days after the meeting and RSI remain above level 30 on 1d time frame ,we can see 22-22500k very quickly .
if the price goes lower and local support zone can hold it ,i expect a few weeks range from 17k to 19k then rising up which is the most possible scenario if any unexpected things like new WAR not going to happen.
if the local support area can not hold the price , then 15-14k is in play which will be the bottom of this bear Cycle in my opinion!
I AM going LONG from 15k for sure .
Note
Hi again hope everyone doing fine.as i mentioned before in first scenario BTC remained above 19k on daily time frame and local support worked very well and pushed the price upward to exactly 22500 level.
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