Strong support by MA100 ( 1W )
(( please read the description ))
Hello friends and companions of Trading View
Bitcoin is always a master of surprises, be careful not to fall into the trap,Unfortunately, strong support was lost by the MA 50, The price quickly dropped to 35k$.
Head and shoulder pattern is complete, we have to wait for MA100 (green line) support.
(( ---->> What is the price to produce a 1 bitcoin? << ---- ))
The main reason for the worst bitcoin crashes was in December 2018 and March 2020. If the price of bitcoin is less than the cost of producing it, there is a risk that the miners will want to sell. In May 2021, when the price of Bitcoin fell below $ 30k, the market was at risk of selling miners. Now, however, the cost of producing bitcoin is $ 34k
tip :
* When the price is lower than Fib 0.786, I just expect the target to break the resistance, not higher prices, I think the market is going down for a while.
* The first Target is to defeat the resistance, Profit can also be in resistance.
* MACD (Shows a downward trend)
* The trading is above the MA 100 (Green line), one should hope for an uptrend and test the resistance Zone
* RSI is in the sales area (continued downward trades)
* Production cost for 1 bitcoin unit is $ 34k (latest support...!!)
I tried to identify the points of support and resistance for you, Trade smartly, Good luck.
.....................................................................
* In trading, the winner is the one who manages his profit and loss *
* The responsibility for buying and selling lies solely with you *
.....................................................................
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Please like, subscribe and share your ideas.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Hello friends and companions of Trading View
Bitcoin is always a master of surprises, be careful not to fall into the trap,Unfortunately, strong support was lost by the MA 50, The price quickly dropped to 35k$.
Head and shoulder pattern is complete, we have to wait for MA100 (green line) support.
(( ---->> What is the price to produce a 1 bitcoin? << ---- ))
The main reason for the worst bitcoin crashes was in December 2018 and March 2020. If the price of bitcoin is less than the cost of producing it, there is a risk that the miners will want to sell. In May 2021, when the price of Bitcoin fell below $ 30k, the market was at risk of selling miners. Now, however, the cost of producing bitcoin is $ 34k
tip :
* When the price is lower than Fib 0.786, I just expect the target to break the resistance, not higher prices, I think the market is going down for a while.
* The first Target is to defeat the resistance, Profit can also be in resistance.
* MACD (Shows a downward trend)
* The trading is above the MA 100 (Green line), one should hope for an uptrend and test the resistance Zone
* RSI is in the sales area (continued downward trades)
* Production cost for 1 bitcoin unit is $ 34k (latest support...!!)
I tried to identify the points of support and resistance for you, Trade smartly, Good luck.
.....................................................................
* In trading, the winner is the one who manages his profit and loss *
* The responsibility for buying and selling lies solely with you *
.....................................................................
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Please like, subscribe and share your ideas.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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