a 36500 in 2 weeks !!! the more it drops the more it will rise !!!
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News Hunter
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#bitcoin challenges support?
$BTC has a very clear bearish bias based on the short-term and we have several support levels to take into consideration. Depending on how the market moves from now on we might have to switch our bias from bullish potential to bearish continuation.
The last low is $65,118. Any trading above this level and Bitcoin is safe.
The correction low is $60,000 but this isn't the main level in question because it happened on a wick. The main level in question sits around $62,800, the 5-February candle close.
As long as $BTC trades daily and weekly above this level, $62,800, all is fine and we can consider the short-term swings as market noise.
On the other hand, if Bitcoin moves and closes weekly or daily below this level, we have to take cover and revisit the long-term chart.
These support levels are not yet in question but it is better to be prepared.
›› On the bullish side, there can be one final wick to remove some longs followed by market growth. (We keep a bullish marketwide bias on Crypto.)
Thank you for reading.
#BTC #BullishMomentum
$BTC has a very clear bearish bias based on the short-term and we have several support levels to take into consideration. Depending on how the market moves from now on we might have to switch our bias from bullish potential to bearish continuation.
The last low is $65,118. Any trading above this level and Bitcoin is safe.
The correction low is $60,000 but this isn't the main level in question because it happened on a wick. The main level in question sits around $62,800, the 5-February candle close.
As long as $BTC trades daily and weekly above this level, $62,800, all is fine and we can consider the short-term swings as market noise.
On the other hand, if Bitcoin moves and closes weekly or daily below this level, we have to take cover and revisit the long-term chart.
These support levels are not yet in question but it is better to be prepared.
›› On the bullish side, there can be one final wick to remove some longs followed by market growth. (We keep a bullish marketwide bias on Crypto.)
Thank you for reading.
#BTC #BullishMomentum
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