BTC/USDT
With the loss of the range of $ 53,000, we are witnessing a deep and sharp decline
As mentioned in the previous analysis, the re-price trend has been declining over the specified period, and this time it is expected that this downward wave will penetrate even below the 45000 range.
In case of reaction to the mentioned limits or any change, the chart will be updated again
With the loss of the range of $ 53,000, we are witnessing a deep and sharp decline
As mentioned in the previous analysis, the re-price trend has been declining over the specified period, and this time it is expected that this downward wave will penetrate even below the 45000 range.
In case of reaction to the mentioned limits or any change, the chart will be updated again
Trade active
By penetrating below the $ 45,000 range and returning to the top and closing the daily candle on May 17, the price can move again in the form of a correction wave to the $ 50,000- $ 51,000 range.
Based on this, it is expected that the market trend in the next 72 hours will be better than the previous days and will be more appropriate, but keep in mind that the main corrective trend is still the same.
In case of re-penetration in the range of $ 45,000, the analysis will need to be updated
The loss limit for the current penetration range is below $ 45,000
Trade closed: target reached
As expected, the price of Bitcoin dropped even more than expected ...
According to the previous analysis, despite the excessive drop in prices, if the daily candle is recorded above the range of 36,000, one can expect the market to stabilize in this range.
According to the time analysis, the current situation of the market should continue for the next 10 days, which we hope will be an erosive trend in the worst case, around the current price, and will not decline further.
Following previous analysis, it should be noted that the long-term price trend of Bitcoin has not fallen to the range of $ 30,000 and will not fall to around $ 24,000 even if the price continues to fall.
If the candlestick opens below the $ 36,000 daily level on May 20, the scenario will likely change and the analysis will be updated again.
Trade active
As expected, with the closing of the daily candle above the support range indicated on the price chart, it moved back to higher targets.
Given the current situation and the structure of the correction and forecast of a 10-day erosion trend, there is a possibility of price correction again, but in our opinion, penetration below the previous floor seems unlikely.
If the price penetrates to the range of $ 32,000, the analysis will be updated again
Trade closed: target reached
The correction was completed and the 12-hour close was recorded above the $ 38,000 range
After reviewing the 30-minute timeframe, the price is expected to move to the $ 45,500 resistance this time and re-enter another larger correction wave.
If the announced scenario materializes, the most important support for a 30-minute timeframe will be around $ 36,000, and it should not penetrate to this level to maintain an upward trend.
If the price crosses the specified resistance, the analysis will be updated again
Trade active
A perspective to continue the trend in 4-hour timeframe
According to the previous mid-term analysis, from the beginning of the price decline to the current level and maintaining support in the range of $ 36,000 and predicting the end of the correction until the end of May, the scenario predicted on the chart is as follows.
Accordingly, if the previous analysis is realized (price movement towards $ 45,500), the probability of this wave forming will be very high
Given the time frame and the stabilization of the price above the $ 36,000 support during this period, the breakout range is slightly higher at around $ 34,000, which means that the price will penetrate this range before the uptrend to $ 45,000 again. It will reform the whole market
In case of any changes, the chart will be updated again
Trade closed: target reached
Due to the time analysis and delay in the formation of this uptrend, there is a possibility that this wave will be shorter
The trend is expected to rise again after the completion of the short-term forecast, which coincides with the end of May, which was previously mentioned in the analysis.
The overall market loss is the penetration of bitcoin prices into the trend, which is around 32,000
Mr ChaRtist
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
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.
Mr ChaRtist
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
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.