Bitcoin / TetherUSShort
Would Bitcoin get to 32000$ soon?
Since January 2021, Bitcoin has had movements in a long-term trading range; it has touched the top twice on April 15th 2021 and November 10th 2021. Also, the price got as low as the bottom of the trading range on January 21st on the pullback, may 19th after setting a new all-time high and it stayed there for a while and now after 260 days, the price is about to meet the bottom once again.
But to ensure that the price wouldn’t start moving up from right here, more clues are needed. As it’s obvious, the last correction wave was pretty weak which means the down-trend isn’t over yet. If we take a closer look on the 1h time frame, we see an uptrend channel, which had a break out from bottom. In the best situation, the 40000 static line would be met again, then the daily down-trend would be continued UNLESS whales make any weird decision or the market gets bombed with good news.
Due to all the reasons mentioned above, there is a huge probability to have better chances to buy. The possible movements are drawn with blue lines on the chart. Don’t forget to drop a comment below and like this post if it helped you!
But to ensure that the price wouldn’t start moving up from right here, more clues are needed. As it’s obvious, the last correction wave was pretty weak which means the down-trend isn’t over yet. If we take a closer look on the 1h time frame, we see an uptrend channel, which had a break out from bottom. In the best situation, the 40000 static line would be met again, then the daily down-trend would be continued UNLESS whales make any weird decision or the market gets bombed with good news.
Due to all the reasons mentioned above, there is a huge probability to have better chances to buy. The possible movements are drawn with blue lines on the chart. Don’t forget to drop a comment below and like this post if it helped you!
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.