BITCOIN, something is moving.
BITCOIN, something is moving.
We are witnessing a technical rebound that has the substantial possibility of a change in trend, also due to the trend of the S & P500 and the Nasdaq 100 (also on the 200 1-week moving average and 50% of the Fibonacci Relegation).
For a substantial change in the uptrend after so many months of taking profit, a consolidation of Support 1 is needed for a break to the upside with a consequent break of Technical Macro Resistances 1 and 2.
S1 (Support): Priced at $ 27,000 on Media 200 (Blue) at 1 week.
R1 (Resistance): Priced at $ 42,700 / $ 48,500 technical resistance of the first weekly low from the high of $ 70,000 on November 8, 2021.
R2 (Resistance): at the price of $ 33,000 / $ 37,500 technical resistance of the last weekly low point and the 1-week Average 100 (yellow).
We have designed a Falling Wedge which is only hypothetical as at the theoretical moment, but if it is respected (we will see it in the next few weeks) it would be a signal of a change in trend from the current profit taking to a powerful new UP TREND.
We will continue to monitor it.
HOLD on BTC and the main Crypto always to be recommended, possibility to accumulate when the price is low but beware of high volatility
For info contact us in private
LPI.sa, Grow with us
We are witnessing a technical rebound that has the substantial possibility of a change in trend, also due to the trend of the S & P500 and the Nasdaq 100 (also on the 200 1-week moving average and 50% of the Fibonacci Relegation).
For a substantial change in the uptrend after so many months of taking profit, a consolidation of Support 1 is needed for a break to the upside with a consequent break of Technical Macro Resistances 1 and 2.
S1 (Support): Priced at $ 27,000 on Media 200 (Blue) at 1 week.
R1 (Resistance): Priced at $ 42,700 / $ 48,500 technical resistance of the first weekly low from the high of $ 70,000 on November 8, 2021.
R2 (Resistance): at the price of $ 33,000 / $ 37,500 technical resistance of the last weekly low point and the 1-week Average 100 (yellow).
We have designed a Falling Wedge which is only hypothetical as at the theoretical moment, but if it is respected (we will see it in the next few weeks) it would be a signal of a change in trend from the current profit taking to a powerful new UP TREND.
We will continue to monitor it.
HOLD on BTC and the main Crypto always to be recommended, possibility to accumulate when the price is low but beware of high volatility
For info contact us in private
LPI.sa, Grow with us
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.