BTC/USD - The PAIN continues. $34k Next. 🚨
There was a small glimpse of hope this morning when BTC was approaching 40k. But that was a trap from bears.
Price turned back and down we go... I would not hope for any sustained rally until we find support.
Best support candidates right now are:
>>> 34k
>>>
29K
Failure at any of these levels will push BTC closer and closer to the key support at 20k which is also the past ATH.
I don't want to go ahead of myself here, but the high timeframes like weekly or monthly on MACD tell me we have A LONG WAY to go before this bear market ends...
Unless some magic happens, I fail to see how BTC can rally back up from here to turn the market bullish.
Best bet is to stay vigilant and expect lower prices. Stack on cash and powder and then buy on the way down. I think anywhere under 30k sound good.
DCA until 20k or lower. I don't want to think of prices under 20k because that will kill the altcoin market.
Bias remains bearish. Stay safe.
Like and follow if you liked my idea!
Price turned back and down we go... I would not hope for any sustained rally until we find support.
Best support candidates right now are:
>>> 34k
>>>
29KFailure at any of these levels will push BTC closer and closer to the key support at 20k which is also the past ATH.
I don't want to go ahead of myself here, but the high timeframes like weekly or monthly on MACD tell me we have A LONG WAY to go before this bear market ends...
Unless some magic happens, I fail to see how BTC can rally back up from here to turn the market bullish.
Best bet is to stay vigilant and expect lower prices. Stack on cash and powder and then buy on the way down. I think anywhere under 30k sound good.
DCA until 20k or lower. I don't want to think of prices under 20k because that will kill the altcoin market.
Bias remains bearish. Stay safe.
Like and follow if you liked my idea!
📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
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.