Bitcoin losing strength.Bitcoin: After an initial pump, we didn't have enough buying volume to break the resistance from the previous top, and we could see a return to the 35k-40k accumulation range.
The world scenario is one of extreme caution, which will make the whales swim in depth, awaiting a definition of the scenario.
Bitcoin-short
BITCOIN , Its not time to buy ! All supports and resistances are marked on the chart. As we can see, the price is in an important range and recommended to keep an eye on it ...
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📊 #BTCUSDT ( BITCOIN )
💹 Time Frame : Weekly
👤 Saeid.Mahbob
📅 02. 05 .2022
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BTC DAILY POST (3/3) - CLOSED IB, POTENTIAL DOWNWARDS MOMENTUM
BTC closed its 39.3k - 40.5k imbalance today, as you can see its a 100% calculated movement and the candle stopped EXACTLY at the top line of the IB.
This is another proof that the market is manipulated and a reason to believe in the SM Concept
- xtekky-
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Sharp fall from ATHs.Bitcoin needs to move to the upside past this downward trend channel. It broke down below the 1st support of $41.2K. Next levels of support are $29.5K, $20K, $12K.
IMO crypto market needs a washout and needs to clean out most of the junk coins in this space. Unfortunately for that to happen, BTC needs to go through some pain.
Support trendline getting broken In the 15min chart we can see this ascending triangle.
The lower support is getting broken if we retest and fail to reenter the triangle we could go back down.
Targets:
- 36.5K based on volume profile, this area has big accumulation of volume to potentially hold
- 32K to 33K we could retest this level too, CPR monthly support is also around that level
Fakeout possible?
Yes, potentially we could fakeout and still claim above the triangle but that has les probability than the bearish targets
One of the main reasons that could be driving the price down now is the NASDAQ opening a red candle today (even though SPX is still green). PYPL is selling out -25% is one of them...