#BTC
The market still needs correction of the growth. On a 1-day scale, overheating is noticeable: the Stoch RSI is ready to drop, and RSI concerns the overbought zone. The decline may occur no less than the 7400 area, where we will be met by a tight support of the downtrend line (which in the recent past was a decisive resistance, the breakdown of which determined the further bullish mood of the market).
Larger scales also look positively and demonstrate the possibility of continuing growth. On the weekly chart, all the same bullish flag is actual, Stoch RSI is very bullish with a good margin for further growth, MACD can only begin to intersect and go up. Those. the market looks good for a longer term, but in the medium and small scales it needs correction, we need to cool down and find dense support before moving on. To consider a positive scenario for further development, we need to fix above the resistance of 8500 (for which now the forces are not enough), then we can consider the scenario of further growth, it is quite possible to psychologically significant 10,000.
Most alts on this background demonstrate a good opportunity to open long-term investments, but for the medium term, there is a risk of decline along with Bitcoin, as for a short-term positive most of the markets should have already rebounded noticeably. This did not happen, which also indicates the likelihood of the continuation of the rollback of the BTC. At the moment, Ethereum looks safer for both medium-term and long-term investments. Altcoins are ready for the new season of growth, most of them made a corrective rollback of more than 78.6% (which corresponds to the Fibonacci sequence around the resistance of Fib 0.786), as a rule, reaching these marks entails a further turn and buying from the current levels is as safe as possible. In addition, we recommend that you pay attention to new coins that have not yet shown themselves, they can also show good growth during this year.
The market still needs correction of the growth. On a 1-day scale, overheating is noticeable: the Stoch RSI is ready to drop, and RSI concerns the overbought zone. The decline may occur no less than the 7400 area, where we will be met by a tight support of the downtrend line (which in the recent past was a decisive resistance, the breakdown of which determined the further bullish mood of the market).
Larger scales also look positively and demonstrate the possibility of continuing growth. On the weekly chart, all the same bullish flag is actual, Stoch RSI is very bullish with a good margin for further growth, MACD can only begin to intersect and go up. Those. the market looks good for a longer term, but in the medium and small scales it needs correction, we need to cool down and find dense support before moving on. To consider a positive scenario for further development, we need to fix above the resistance of 8500 (for which now the forces are not enough), then we can consider the scenario of further growth, it is quite possible to psychologically significant 10,000.
Most alts on this background demonstrate a good opportunity to open long-term investments, but for the medium term, there is a risk of decline along with Bitcoin, as for a short-term positive most of the markets should have already rebounded noticeably. This did not happen, which also indicates the likelihood of the continuation of the rollback of the BTC. At the moment, Ethereum looks safer for both medium-term and long-term investments. Altcoins are ready for the new season of growth, most of them made a corrective rollback of more than 78.6% (which corresponds to the Fibonacci sequence around the resistance of Fib 0.786), as a rule, reaching these marks entails a further turn and buying from the current levels is as safe as possible. In addition, we recommend that you pay attention to new coins that have not yet shown themselves, they can also show good growth during this year.
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Note
#BTC
Again, we break through the support of 8100, most likely it is not worth counting on further growth. In the case of further decrease Bitcoin alto can also lose their value, be careful, in this situation, the entry of transactions should be caught at lower levels, we can see another wave of decline. On an hour scale, we are still ready to fall, this fall will be the same correction of the last growth. The most important and important support is about 7400, for a further positive scenario of the market development, it should reflect the fall. Otherwise, if we go lower (back to the triangle), the last impulsive breakout will be false, and the market will continue to follow the global downtrend in search of a lower level for the reversal. As soon as Bitcoin ceases its decline and is likely to move to the next outset, the sagging alto will grow, keep this in mind.
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Have received a decrease, which was warned earlier.Note
#BTCBitcoin is approaching the top of the template, which still acts as a support.
Note
The market has gone much deeper into the pattern, at the moment the price movement may look like this:The upper edge now acts as a strong resistance, if the market does not breakout it, then we are expected to further downtrend move
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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.