A quiet week has passed.We defined the support level(40500) and the resistance level(46000) in the last report . BTC pulled back after reaching the resistance level on Feb.10 and remains in the fluctuation range we gave. The power-gap between the long and the short isn’t big. On a large scale, the short side did not strengthen significantly after the long side escaped from the bearish channel. The long side can launch a large-scale attack, but only if the resistance level (46000) is taken, not a retest but a breakthrough this time. Otherwise, it is difficult for both the long and short to form a trend.
Conclusion: Mostly fluctuation and there is a certain possibility that the rebound has not ended. As things stand, we think the previous support and the resistance levels are still valid. And the strength of the short did not destroy the rebound that started on Jan.24.
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: Mostly fluctuation and there is a certain possibility that the rebound has not ended. As things stand, we think the previous support and the resistance levels are still valid. And the strength of the short did not destroy the rebound that started on Jan.24.
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.