You can see that after the dump of Jan.21, both long and short stagnated. Although the short side has stopped attacking, the price climbed like a snail. The long side is still struggling. The price rebounded to 39000 on Jan.26, but as before, the strength of the long was fading again and pinbar appeared. While the short did not gain more this week, the poor performance of the long make the decline seem like a monthly scale. The bearish channel remains effective.
Conclusion: Falling after fluctuation. The strength of the long has not been confirmed this week, so we maintain the previous resistance level(40500) and support level(30000). Based on the recent short side’s power, we think the decline will continue after a short-term fluctuation. Just be humble and nimble to the market.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Conclusion: Falling after fluctuation. The strength of the long has not been confirmed this week, so we maintain the previous resistance level(40500) and support level(30000). Based on the recent short side’s power, we think the decline will continue after a short-term fluctuation. Just be humble and nimble to the market.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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.
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.