🔥 Bitcoin Broke Bearish: More Selling Possible
Updated
A while ago I made a post where I argued that BTC was on the verge of breaking bearish. In the case of a bearish break out, more downside was to be expected. See below.
After a terrible weekend, BTC broke the bullish trend line and is back in selling territory. At the moment, the only thing that can (temporarily) save BTC is some good macro news. Russia pulling back her troops, for example.
As it seems now, the path of least resistance is down. I'm looking for the area between 33k-34k for a potential target.
Happy trading!
After a terrible weekend, BTC broke the bullish trend line and is back in selling territory. At the moment, the only thing that can (temporarily) save BTC is some good macro news. Russia pulling back her troops, for example.
As it seems now, the path of least resistance is down. I'm looking for the area between 33k-34k for a potential target.
Happy trading!
Comment
With the above analysis being very bearish, there's also a middle-ground possible.Since we're currently very near the diagonal resistance line, BTC might want to re-test the line before continuing going up. Tomorrow is going to be interesting.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
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.