Dontpanicsell
Bitcoin sudden DUMPDo not worry, the $400 drop in bitcoin price might have seemed sudden. And although the hour candle closed below key support and resistance levels (which may be a bad sign), the price is only retracing and pulling back naturally and has successfully bounced off the 0.382 Fibonacci level, leaving much space for bullish momentum today, April 1st, 2021.
This is only published for educational purposes.
Thierry
BITCOIN Price CRASHES! WHAT NOW?In the last couple of hours, the price of bitcoin has quickly rallied down back to $58,000, at one point reaching $56,800, after not being able to break through a key resistance level that I have drawn using a Pitchfork.
The price quickly rallied up to $59,700 before crashing. This could have been caused for many reasons. It could have been caused by a very quick rise in price that caused the collapse, or a very big volume of bearish orders at that moment. The price has finally caught up and has gone back into previous key positions that allow us to determine its next moves better.
The drop might have been not too big, but amateur traders started selling off there assets too quickly after seeing a small drop in price.
Mind that the price never totally wen out of my graphs and actually bounced off a key support level. It has been retesting a specific Fibonacci level for hours now, but might make a slow rise back to the top starting from now.
This is the best example as to why you should not sell your assets so quickly.
The cycle will continue and BTC will rise back!
Thierry
This analysis is only for educational purposes.
BTCUSD Prediction using Elliott WavesPredicting the movement of BTCUSD in the upcoming weeks using the Elliott Waves.
Please note that all diagrams and charts are only estimates.
Using the fundamental rules of Elliott Waves, we are able to predict that BTC will have a bull run that could potentially reach $70K, before retracing back.
The Elliott Waves have also helped predict that wave 4 which comes right after the bullish wave, will be considerably flat compared to the previous pullback. This means that the next pullback will not carry many buying opportunities with it.
News Catalysts and Panic selling have driven BTC to a key support level, which it should bounce off soon.
Thierry Hitti
BTC Support is not "degrading" Very simple. TD sequential 9 indicates downtrend exhaustion.
BTC could still break bellow this level which would bring it to previous support, this would prove wrong the theory that bitcoin is repeating its price movement when it was between 9k and 10k. Watch for the 11150 level if you hold altcoins.
don't focus so much on the short term. relax! ;)
