BTC Bears SLAUGHTERED, Will BULLS HODL $20K?
Updated
Hi Traders, Investors and Speculators of the Chart📈📉
In my previous analysis, I've pointed out how the technical indicators such as LSMA, RSI and Bollinger Bands were pointing towards 22K for Bitcoin. The market's have been overwhelmingly bullish, with green candles across Gold, Silver, DXY and most altcoins. It's safe to say that the markets are expected to take a breather soon, and now might be a good time to secure those profits because the largest question of all remains to be seen : Was this one big bull trap where overleveraged longs will soon be struck down, or is the bottom in and this is the beginning of a new bullish cycle?
This remains to be seen and I expect more clarity on this with the next pullback (which are healthy and common). When we pull back remains to be seen if 20K can be held and defended by bulls. If we can keep closing above 20K and not under, you can even consider opening a long there incase you're late and missed the rally.
I suspect the markets will see lots of volatility this week, so remember to pre set those orders!
For those who have been following for a while, all of the altcoins on our watchlist have rallied. Please remember to secure some profits!
_______________________
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CryptoCheck
In my previous analysis, I've pointed out how the technical indicators such as LSMA, RSI and Bollinger Bands were pointing towards 22K for Bitcoin. The market's have been overwhelmingly bullish, with green candles across Gold, Silver, DXY and most altcoins. It's safe to say that the markets are expected to take a breather soon, and now might be a good time to secure those profits because the largest question of all remains to be seen : Was this one big bull trap where overleveraged longs will soon be struck down, or is the bottom in and this is the beginning of a new bullish cycle?
This remains to be seen and I expect more clarity on this with the next pullback (which are healthy and common). When we pull back remains to be seen if 20K can be held and defended by bulls. If we can keep closing above 20K and not under, you can even consider opening a long there incase you're late and missed the rally.
I suspect the markets will see lots of volatility this week, so remember to pre set those orders!
For those who have been following for a while, all of the altcoins on our watchlist have rallied. Please remember to secure some profits!
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
Note
From Technical Indicator Phoenix Ascending, we can see the immediate buying pressure running out : the green EMA is basically maxed out in the daily and starting to curve downwards. The grey momentum is also about to drop under 50, both indicating that immediate buying pressure is running out.
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