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BTC/USDT
According to the price analysis, it reacted by reacting to the resistance range and a little earlier than expected.
The price of Bitcoin is around $ 38,800 at the time of presentation of the analysis after reacting to the $ 38,200 range, and it is still not out of the question for the current wave to continue until the last support of around $ 37,000.
As you know, the exit signal was issued almost 6 months ago with the break of the $ 57,000 bitcoin range, and after that, there was only talk of further price declines. Reaching the price range of $ 32,000, which was previously targeted in the mid-term analysis, temporary market support was announced and we tried to avoid positive market fluctuations and announce the best exit points after the temporary positive market wave, and finally after Reaching the desired ceiling, the exit signal was issued again.
Six months after the beginning of this erosive downtrend, the market as a whole is now in a critical range to continue the trend, and sooner or later the task of the new trend will be clear for at least the next 6 months.
In the meantime, in order to provide a better view, there are several scenarios that are mentioned in the captions, and finally, we will use the most probable scenario as the basis for deciding to continue our presence in the market and transactions.
According to the price analysis, it reacted by reacting to the resistance range and a little earlier than expected.
The price of Bitcoin is around $ 38,800 at the time of presentation of the analysis after reacting to the $ 38,200 range, and it is still not out of the question for the current wave to continue until the last support of around $ 37,000.
As you know, the exit signal was issued almost 6 months ago with the break of the $ 57,000 bitcoin range, and after that, there was only talk of further price declines. Reaching the price range of $ 32,000, which was previously targeted in the mid-term analysis, temporary market support was announced and we tried to avoid positive market fluctuations and announce the best exit points after the temporary positive market wave, and finally after Reaching the desired ceiling, the exit signal was issued again.
Six months after the beginning of this erosive downtrend, the market as a whole is now in a critical range to continue the trend, and sooner or later the task of the new trend will be clear for at least the next 6 months.
In the meantime, in order to provide a better view, there are several scenarios that are mentioned in the captions, and finally, we will use the most probable scenario as the basis for deciding to continue our presence in the market and transactions.
Note
After about 6 months, the price of Bitcoin has pushed in the range of $ 8,000 to $ 37,000 to $ 44,700 and is expected to start a new trend for the medium term in the next two weeks.
The mentioned areas as the most important support and resistance of the market will determine the task of continuing the market trend, which means that the penetration of prices in each of these two areas will start a new trend in the same direction.
Accordingly, in the first scenario, considering the previous waves and reviewing all the analyzes of the last 3 months, as long as the price is below $ 40,750, it will be prone to further decline to about $ 37,000. If this scenario materializes, even assuming a $ 37,000 breakout and the start of a new downtrend, the price should once again return to the specified level of around $ 44,700. So the new entry point is around $ 37,000 with a penetration loss of $ 36,000.
Note
The second scenario, however, is slightly different despite being in the same direction at the beginning of the move, meaning that the price will move back to the $ 37,000 range and react to this range, moving to the main ceiling and crossing the $ 44,700 level. If the second scenario materializes, the new bitcoin price floor will close at around $ 37,000, and according to time analysis, the market trend could continue for the next 3 months.
Note
Finally, considering both scenarios, in our opinion, the realization of the first scenario is more probable, and it is expected that after recording the final positive wave, the market will enter a new downward phase and the price of bitcoin will move to the range of $ 27,000.Accordingly, given the importance of $ 37,000 support at the current level, the loss of all trades will be significant.
If we react to this support and confirm the short-term uptrend to the range of $ 44,700, we will try again not to take advantage of the positive market fluctuations and we will start fluctuating from the market.
If the price of Bitcoin stabilizes above $ 40,750 before moving to $ 37,000, the last short wave of correction will be filled to $ 37,000 and the support for the last uptrend will be in the range of $ 40,750, resulting in a market loss in Our range will be between $ 37,000 and $ 40,750, which will be announced if needed.
According to short-term analysis, the period from April 26 to May 3 will be the most volatile range these days. Therefore, avoid emotional trading and preferably do not make high-volume and risky transactions these days.
Due to the sensitivity of the current range, in case of any reaction from the market, the analysis will be updated.
CryptoClub Team
4/26/2022
Crypto Club TA team
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/CryptoClub_Technicalanalyst
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/CryptoClub_Technicalanalyst
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