As expected, the price dumped below the descending channel, currently consolidating right below one's support level.
As expected, the price dumped below the descending channel, currently consolidating right below one's support level. On the chart I've described two possible options for the price movement: strictly positive and hmm.. okey.
👉 Overall, the support of $111,000 is crucial right now. If we lose it, Bitcoin goes towards $100,000 and the current bullish phase might be considered as finished. For now we still have chances.
As expected, the price dumped below the descending channel, currently consolidating right below one's support level. On the chart I've described two possible options for the price movement: strictly positive and hmm.. okey.
- Strictly positive: some consolidation below the support with, then quick retrace back inside the channel and new upward rally on the next working week. Entering LONG position will make sense after the breakout of the $116,500 resistance, not earlier.
- Hmm.. okey: Bitcoin is not strong enough to come back inside the channel and dumps to $111,000 support level. Near this level we must see some consolidation to gather more power. Possible fakes down to $108,000. In some time (1 week+) we will have chances of going back up.
👉 Overall, the support of $111,000 is crucial right now. If we lose it, Bitcoin goes towards $100,000 and the current bullish phase might be considered as finished. For now we still have chances.
Klondike Official Links:
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
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.
Klondike Official Links:
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
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.