Bitcoin / TetherUSShort
Weak BTC, beware of fake breaks!
Hello traders,
I leave you an update on BTC, I am very satisfied with how the last technical analysis went, it is really a powerful tool!
So .... we are still in a very dangerous phase, probably one of the most decisive and I will explain why.
I left you the screenshot of the graph to TF Weekly and as you can see we bounced exactly, amazingly, on the only cluster created at the end of 2020, the only important trading point before the bull run we all know.
This is a crucial point because as there are no resistance and support levels above and below the cluster, it could easily create a lot of volatility, just as happened between June 9-13.
This happened because it had lost 30k of support and if you see in the weekly in the past there are no clusters at this level and it has made the price slide, and that's what can happen again.
If we lose this support guys and we were to break 17k by chance we could find ourselves in a few days at high altitude ... be careful ... 12k-14k this is a considerable trading area and here I would feel safer it is one of the most important supports. important that keep BTC on its feet, I believe that in the worst case it could have shadows that touch 10k but they would be sucked into demand very quickly.
In the Daily chart I marked with three arrows the three hypotheses that could materialize, from the most probable to the least considering the general market.
I remain SHORT because we are still in the midst of a severe monetary crisis and I believe that BTC can lateralize a few days and stabilize on the price, if there is still no Bear news.
Also, we are fighting against the 10 periods that had been interrupted in the last landfill and given the period even 10 periods is a considerable resistance.
I think he can easily bounce back and go back to 19k shortly.
In case of negative news the price would collapse in a short time on the support I told you between 12-14K.
Finally, but I see it very tough, the hypothesis of an upside that if it happens should return to the low of 28 / 30k, but such a demand with such a bad market is highly unlikely.
What do you think?
I leave you an update on BTC, I am very satisfied with how the last technical analysis went, it is really a powerful tool!
So .... we are still in a very dangerous phase, probably one of the most decisive and I will explain why.
I left you the screenshot of the graph to TF Weekly and as you can see we bounced exactly, amazingly, on the only cluster created at the end of 2020, the only important trading point before the bull run we all know.
This is a crucial point because as there are no resistance and support levels above and below the cluster, it could easily create a lot of volatility, just as happened between June 9-13.
This happened because it had lost 30k of support and if you see in the weekly in the past there are no clusters at this level and it has made the price slide, and that's what can happen again.
If we lose this support guys and we were to break 17k by chance we could find ourselves in a few days at high altitude ... be careful ... 12k-14k this is a considerable trading area and here I would feel safer it is one of the most important supports. important that keep BTC on its feet, I believe that in the worst case it could have shadows that touch 10k but they would be sucked into demand very quickly.
In the Daily chart I marked with three arrows the three hypotheses that could materialize, from the most probable to the least considering the general market.
I remain SHORT because we are still in the midst of a severe monetary crisis and I believe that BTC can lateralize a few days and stabilize on the price, if there is still no Bear news.
Also, we are fighting against the 10 periods that had been interrupted in the last landfill and given the period even 10 periods is a considerable resistance.
I think he can easily bounce back and go back to 19k shortly.
In case of negative news the price would collapse in a short time on the support I told you between 12-14K.
Finally, but I see it very tough, the hypothesis of an upside that if it happens should return to the low of 28 / 30k, but such a demand with such a bad market is highly unlikely.
What do you think?
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