19000-20000 is accumulating level showed double bottom patter with potential to test 30000
40 is strong resistance. 30 also high volume area, but not so powerful as 40. 30 we will pass very fast and come back after 40 touch
Pessimistic background may cause crypto winter with the worst scenario ‐ 1000$ levels for 1 BTC. It is apocalyptic scenario if salvador will bancrupt and big institutional investors like Micro Strategy, Tesla, Coinbase, PayPal and hedge funds will leave crypto market and derivative market. One more reason for apocalypse is stablecoin buncrupting. Terra UST...
MACD divergence is bearish signal. Week timeframe is pretty valuable. Correction on week scale may lead to panic sell. Fibbo correction level (61.8%) is on ~40000
MACD divergence is bearish signal on day timeframe. Maybe we will see correction to 45-40 levels this week
In my opinion correction from 58000 has not finished yet. Last few days the chart formed strong MACD divergence. It is bearish signal. In a result I think we will see ABC correction from 58000 to 40000 with B peak on 50000
Please note that short on correction is not a good idea. This is my third try to find the point of correction, but I don't close any of my long positions. I am looking for correction only to make new longs.
New target is correction to 24000, not 20000
Bitcoin has left the downside trend from 20 000 all-time-high. Now, season of triangles started. Good circumstances for day trading. Good luck to everybody