Is it ok for you guys if Bitcoin dumps below $80k??
Not financial advice, just wanted to share my own analysis. In a couple of days, there hasn't been enough momentum for a breakout. $BTC is facing resistance levels and needs a good correction to continue its macro trend.
Currently, the weekly chart is looking good đ. The long-term is bullish.
But on the daily chart, BTC is forming a bearish RSI divergence đ.
And also on the 4-hour chart, Bitcoin broke down below the ascending triangle pattern and is currently pumping a bit from the previous swing support, but I don't think this will be enoughâit needs to go down more đđ.
I am expecting $76,500 to $75,500 is highly possible, so that is the reason I am avoiding and managing my risks on longs.
Well, let's see. I will look for a short position only when it breaks below the $80k support level.
This is how I am looking at the market right now. So DYOR!
$BTC
#BTC #TechnicalAnalysis
Not financial advice, just wanted to share my own analysis. In a couple of days, there hasn't been enough momentum for a breakout. $BTC is facing resistance levels and needs a good correction to continue its macro trend.
Currently, the weekly chart is looking good đ. The long-term is bullish.
But on the daily chart, BTC is forming a bearish RSI divergence đ.
And also on the 4-hour chart, Bitcoin broke down below the ascending triangle pattern and is currently pumping a bit from the previous swing support, but I don't think this will be enoughâit needs to go down more đđ.
I am expecting $76,500 to $75,500 is highly possible, so that is the reason I am avoiding and managing my risks on longs.
Well, let's see. I will look for a short position only when it breaks below the $80k support level.
This is how I am looking at the market right now. So DYOR!
$BTC
#BTC #TechnicalAnalysis