[08/01] Beast Trading _ Today's Bitcoin Perspective
Bitcoin showed an ABC-like decline yesterday, according to the market. The decline, the decline, and the shape of the decline, moved almost the same as yesterday's market, and I'll tell you what you need to check carefully from now on.
First of all, I'd like to talk about alt-pumping before the Bitcoin analysis, and I think there's a short-term failure of the bit rising from 20.7k, starting with PUNDIX yesterday.
Of course, you should always be careful: you're jumping like a moth on a coin that has risen by tens of percent. There was a sharp rise, so the fall is very wide. It seems good to avoid these high-risk gambling deals.
Also, I don't recommend too much buying because there are still some parts where it's ambiguous to say that these pumps are not the real entry into the fire.
(It's not like there's no chance that the alt's going to crash suddenly, so you have to keep some cash!)
Back to Bitcoin, we're still holding up well after being supported twice in the upward trend that I posted yesterday.
However, considering that it was supported by the upward trend and there is no proper rebound, it can be seen that the upward force is not very strong here, but if you come to touch the line again, you can break it down and make a short-term plunge.
Slightly below from now, there's a significant rebound of 22.7k with a 0.5 return position and a sales stand at stake for the increase from 20.7k to 24.6k! It looks like a good place to take a long position.
The Fibonacci support line below is likely to be 23160 / 22700 / 22230
The upper trend resistance line is around 24950!
Bitcoin showed an ABC-like decline yesterday, according to the market. The decline, the decline, and the shape of the decline, moved almost the same as yesterday's market, and I'll tell you what you need to check carefully from now on.
First of all, I'd like to talk about alt-pumping before the Bitcoin analysis, and I think there's a short-term failure of the bit rising from 20.7k, starting with PUNDIX yesterday.
Of course, you should always be careful: you're jumping like a moth on a coin that has risen by tens of percent. There was a sharp rise, so the fall is very wide. It seems good to avoid these high-risk gambling deals.
Also, I don't recommend too much buying because there are still some parts where it's ambiguous to say that these pumps are not the real entry into the fire.
(It's not like there's no chance that the alt's going to crash suddenly, so you have to keep some cash!)
Back to Bitcoin, we're still holding up well after being supported twice in the upward trend that I posted yesterday.
However, considering that it was supported by the upward trend and there is no proper rebound, it can be seen that the upward force is not very strong here, but if you come to touch the line again, you can break it down and make a short-term plunge.
Slightly below from now, there's a significant rebound of 22.7k with a 0.5 return position and a sales stand at stake for the increase from 20.7k to 24.6k! It looks like a good place to take a long position.
The Fibonacci support line below is likely to be 23160 / 22700 / 22230
The upper trend resistance line is around 24950!
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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.