Hi all, bitcoin dropped ~9% yesterday and it's time to analyze the chart. We have strong support at the levels indicated by the block, also we are close to the bottom of the bolinger bands in the last 4 years and have been below this band only 3 times (bottom in 18, covid dump in March 20 and Chinese FUD in summer 21).
I expect consolidation at the current levels and then an upward move.
I don't rule out a short-term dump followed by a return to current prices.
P.s A head and shoulders pattern is drawn on the chart. This pattern is not a reversal pattern and since we are still moving in an upward channel I do not take it into account.
I expect consolidation at the current levels and then an upward move.
I don't rule out a short-term dump followed by a return to current prices.
P.s A head and shoulders pattern is drawn on the chart. This pattern is not a reversal pattern and since we are still moving in an upward channel I do not take it into account.
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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.