bitcoin retes
Updated
Technical Analysis: The descending triangle wedge is a bearish continuation pattern, which means it often leads to a further decline in price. Traders pay close attention to these patterns as they can provide reliable signals of impending moves.
Support and Resistance: The $41,500 level is significant as it has previously acted as both support and resistance for Bitcoin's price. If the price breaks below this level, it could trigger a cascade of selling pressure.
Market Sentiment: Bitcoin's price is heavily influenced by market sentiment. If traders and investors start to believe that a downtrend is likely, they may start selling, pushing the price lower.
Overbought Conditions: Bitcoin has experienced substantial gains in recent months, and it could be due for a correction. Overbought conditions often lead to price pullbacks, and a drop to $41,500 would still leave Bitcoin in a strong overall bullish trend.
Support and Resistance: The $41,500 level is significant as it has previously acted as both support and resistance for Bitcoin's price. If the price breaks below this level, it could trigger a cascade of selling pressure.
Market Sentiment: Bitcoin's price is heavily influenced by market sentiment. If traders and investors start to believe that a downtrend is likely, they may start selling, pushing the price lower.
Overbought Conditions: Bitcoin has experienced substantial gains in recent months, and it could be due for a correction. Overbought conditions often lead to price pullbacks, and a drop to $41,500 would still leave Bitcoin in a strong overall bullish trend.
Comment
As you can see , finally it touch the zone i excpeted...
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.