SasanSeifi| Can We Expect Short-Term Corrections?Hey there, ✌ In the short-term timeframe, we've observed that Bitcoin has surged from the $60,000 range to a high of $69,000. However, following this peak, the price has shown a negative reaction, undergoing a minor correction down to the $67,000 levels after a brief period of fluctuations.
Currently, the price has remained in a range after encountering the Exponential Moving Average (EMA) at the $67,000 mark. The significant resistance level ahead in the 4-hour timeframe lies between $67,750 and $68,500.
Analysing the chart in the lower timeframes, it appears that the price may be inclined to experience further corrections. If a candle closes below the $66,950 to $66,850 levels, we might witness a price correction down to the demand levels at $65,500, and potentially further to $64,250 to $63,000. Understanding how the price reacts to these levels will be crucial for assessing the ongoing trend. Additionally, if the price faces increased demand and breaks above the established resistance levels, the corrective scenario could be reconsidered. The potential trend is clearly outlined in the chart above.
💢 This is just my personal analysis, not financial advice. If you found this helpful, feel free to like and comment – I'd love to hear your thoughts! Happy trading! ✌😊
Cryptyocurrency
#Bitcoin bad conditionsAccording to the bad statistics of PCE, if the market's expectation of a half percent interest rate increase in the upcoming FOMC meeting increases, risk markets will probably be under pressure.
The dollar index is getting stronger every moment and has reached an important static support
In these situations, the market is under pressure...
The market is bearish in the upper time frame
And every upper swing is an opportunity to save profit or exit :)
APEUSDT/ D 💁🏼♀️#APEUSDT 1D
The price is currently fluctuating.
The first scenario that can be considered is that part of the important resistance range of 5.34/5.70 starts to be corrected or we see price correction from this range.
For a positive price trend, we should stabilize the price by crossing the dynamic resistance above the 5.80 range.
what do you thin about it ?
📆✨8/10/2022✨
💁🏻✨ @MehrnaziJiTrading_crypto✨