Should Bitcoin Settle in $10k-20k channel?
Hello tradingveiw and crypto community
let have a new analysis on bitcoin in a different point of view,
Losing the channel of 20-30 thousand dollars with an impulse move has convinced many to continue its downward trend to the lower channel without any correction wave , but I think it is a little unreasonable and doesn't make sense to go all the way down to the lower channel (10k-20k) at least without taking a breather. So I guess it will return to channel 20-30 and spend at least some time there. Then it decides to go down to the channel again again .
Of course, it does not mean that the next and lower channel will necessarily will be filled . In my opinion, the amount of purchase orders placed in this channel does not allow the price to reach $10,000, and the price reversal may happen at higher prices. If btc wants to lower the price of 20k by equal difference of 60k to ATH (+15%), it will show us 17k with a -15% deviation .
Of course, this isn't a technical prediction and doesn't show the price floor of Bitcoin, it is just a comparison.
Because it has been a long time since Bitcoin and the crypto space entered the winter phase, and it is not clear how long it will last, and it is possible that due to contractionary policies of the World Bank and the stagnation in almost all markets; The period may be longer than before.
Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💜 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
let have a new analysis on bitcoin in a different point of view,
Losing the channel of 20-30 thousand dollars with an impulse move has convinced many to continue its downward trend to the lower channel without any correction wave , but I think it is a little unreasonable and doesn't make sense to go all the way down to the lower channel (10k-20k) at least without taking a breather. So I guess it will return to channel 20-30 and spend at least some time there. Then it decides to go down to the channel again again .
Of course, it does not mean that the next and lower channel will necessarily will be filled . In my opinion, the amount of purchase orders placed in this channel does not allow the price to reach $10,000, and the price reversal may happen at higher prices. If btc wants to lower the price of 20k by equal difference of 60k to ATH (+15%), it will show us 17k with a -15% deviation .
Of course, this isn't a technical prediction and doesn't show the price floor of Bitcoin, it is just a comparison.
Because it has been a long time since Bitcoin and the crypto space entered the winter phase, and it is not clear how long it will last, and it is possible that due to contractionary policies of the World Bank and the stagnation in almost all markets; The period may be longer than before.
Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💜 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
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