BITCOINUSDT has had a truly breathtaking run this past few weeks.
Now we might have a pullback towards 50K or lower as volume has not increased in the same way as price.
40K could also be a pretty strong point of support, as it is in the 0.382 fib retracement range, is a pretty strong point of volume, and also has quite a psychological impact behind it.
March 2018 and March 2020, had been quite bearish months for crypto, and we can expect some fear around those months, maybe sellers will step in before we reach march as they try to avoid significant drops in price.
Now we might have a pullback towards 50K or lower as volume has not increased in the same way as price.
40K could also be a pretty strong point of support, as it is in the 0.382 fib retracement range, is a pretty strong point of volume, and also has quite a psychological impact behind it.
March 2018 and March 2020, had been quite bearish months for crypto, and we can expect some fear around those months, maybe sellers will step in before we reach march as they try to avoid significant drops in price.
Note
10K Drop overnight, sadly my shorts got closed before most of the drop.We are now below 50K, is 50K? Going to become resistance?, we'll have to wait and see.
Note
Kinda looks like I called the TOP.
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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.