Is $19,500 lost now? Bitcoin update.
This might not age well, its early and markets are on the move. However, i thought it might be worth noting to others thinking it's a BUY the dip only moment to kill it.
I would just like to mention a few reasons to exercise CAUTION. It seems that the global drama continues, and the war is escalating this morning in Ukraine and with Russia. This WILL have effects on the markets as they open. The markets can and typically will pull all of crypto and Bitcoin down with them.
Another point i would like to make is that ALL weekend we just ranged in the $19375-$19575 range. the bears slowly and methodically took control of that narrative and walked the bulls down level by level until at the end they boxed them in just under the 19.5k range and stopped allowing any candles beyond. This lead to the $19,375 bottom becoming a real support and the range top just coming down. Now that the 19.5k has been lost i would expect the bears to try and defend the old support as their new line of R for the bulls.
Currently the Bulls are making their best attempts at pushing up but so far i see not even wicks of candles breaking passed $19425. THEY ARE holding the line now at 19.4k the wicks above are FUEL your feeding them to make more gains on the small pushes down they get.
Proceed with caution, market open will be wild.
I would just like to mention a few reasons to exercise CAUTION. It seems that the global drama continues, and the war is escalating this morning in Ukraine and with Russia. This WILL have effects on the markets as they open. The markets can and typically will pull all of crypto and Bitcoin down with them.
Another point i would like to make is that ALL weekend we just ranged in the $19375-$19575 range. the bears slowly and methodically took control of that narrative and walked the bulls down level by level until at the end they boxed them in just under the 19.5k range and stopped allowing any candles beyond. This lead to the $19,375 bottom becoming a real support and the range top just coming down. Now that the 19.5k has been lost i would expect the bears to try and defend the old support as their new line of R for the bulls.
Currently the Bulls are making their best attempts at pushing up but so far i see not even wicks of candles breaking passed $19425. THEY ARE holding the line now at 19.4k the wicks above are FUEL your feeding them to make more gains on the small pushes down they get.
Proceed with caution, market open will be wild.
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