Dear Traders,
BTC has just broken new support level.
Since the sentiment is very poor and the volume is decreasing, the next Support Levels will most likely also be broken. I have shown them in the BTC chart.
A support is actually psychological purchase or point of sale for traders.
If a support level is broken to a higher level, we can look at higher levels. This also applies to a downward trend, which we now see.
In the long term, of course, a bull run is possible. See my other Bitcoin analysis for this.
Thanks for your "support" by liking this idea ;)
BTC has just broken new support level.
Since the sentiment is very poor and the volume is decreasing, the next Support Levels will most likely also be broken. I have shown them in the BTC chart.
A support is actually psychological purchase or point of sale for traders.
If a support level is broken to a higher level, we can look at higher levels. This also applies to a downward trend, which we now see.
In the long term, of course, a bull run is possible. See my other Bitcoin analysis for this.
Thanks for your "support" by liking this idea ;)
Note
BTC is heading next small support. I expect volume will not peak so this symmetrical triangle will result in a new low. Next (small) support is around 2800. If there will come enough volume to result in a up it will retest previous support. We'll see what happen!Note
BTC is hitting next support as mentioned earlier
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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.