Hi Folks,
Don't stress seeing the price of Bitcoin declining. But we are at a price level and it's the moment of truth.
The candlesticks on the daily chart say to us to be aware of any trend changes.. that doesn't immediately means that we wil drop 25/30% of the price.
No maybe we can move a little sideways to gain momentum again and try to break the
41K resistance line.
The decline candle doesn't come with a lot of volume so that ain't a very heavy setback. The bulls have chance to pull back prices up.
Except as we look closer to the candles and place them in conjunction with each other we have to be careful. The spinning top is a reversal signal when it comes with a doji at a high price/resistance area.
It means double to be aware and when it follows with a incomplete dark cloud cover at the moment of writing we have to be very careful.
Take a close look at the support areas and the prices. If neither of all these support lines hold there is a good possibility we fall back to $35K or lower.
But if we look closer on the 4 hour chart there is some hope at the horizon.
We see a Golden cross and hopefully we will bear the fruits coming days.
We also see the price is being tested at the trend line at the 4 hour chart.
this is the update for now be aware of your emotions and don't panic sell use common sense and have trust in your gut feeling.
At least we talk about Bitcoin we always come back !!!
Don't stress seeing the price of Bitcoin declining. But we are at a price level and it's the moment of truth.
The candlesticks on the daily chart say to us to be aware of any trend changes.. that doesn't immediately means that we wil drop 25/30% of the price.
No maybe we can move a little sideways to gain momentum again and try to break the
41K resistance line. The decline candle doesn't come with a lot of volume so that ain't a very heavy setback. The bulls have chance to pull back prices up.
Except as we look closer to the candles and place them in conjunction with each other we have to be careful. The spinning top is a reversal signal when it comes with a doji at a high price/resistance area.
It means double to be aware and when it follows with a incomplete dark cloud cover at the moment of writing we have to be very careful.
Take a close look at the support areas and the prices. If neither of all these support lines hold there is a good possibility we fall back to $35K or lower.
But if we look closer on the 4 hour chart there is some hope at the horizon.
We see a Golden cross and hopefully we will bear the fruits coming days.
We also see the price is being tested at the trend line at the 4 hour chart.
this is the update for now be aware of your emotions and don't panic sell use common sense and have trust in your gut feeling.
At least we talk about Bitcoin we always come back !!!
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.
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.