After Bitcoin failed to break its $102,000 trendline and broke the 15-minute and 1-minute trendlines from below, I feel we are in for another market crash. Please note that this is just my personal experience and should not be used as a guide for you to trade based on a personal theory.
Note
The crash happened and the analysis was correct :-) But the price bounced back and broke the downtrend line. Watch out for the Pull back and don't go long too quickly, but if it can't consolidate above the red line in the next 4 - 8 hours, it will continue to decline again.
Note
As mentioned, Bitcoin was unable to hold above its downtrend line for 4 hours since 10200, and as a result, it continued to fall again. Let's pay attention to the red line of Bitcoin's downtrend. It will continue to fall until Bitcoin can consolidate above this.
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.
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.