AlanSantana

Time To Buy Bitcoin? Volatility Kicks In!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We have a very long lower wick on today's candle after some volatility kicked in.

The Fear & Greed Index for Bitcoin is now at "Extreme Fear"... What happens next?

Looking at the 1H timeframe, we can see a candle wick going as low as $39558 but closing at $40809.
The the following candle pushed prices back above EMA10 on high volume .

See the chart:
This recent low coincides with September 2021, opening the doors for a double bottom .

The blue arrow show the potential bullish path.
(Potential is now opening for a bullish bounce).

If the bulls fail to push prices above EMA10 this week, we can expect a test of lower support.

This is not financial advice.
Remember to do your own research before trading.

Namaste.

✅ Free Cryptocurrency Charts & Trades 👉 https://t.me/ascryptocurrency

📲 GET PAID! 5 UNIQUE/PAID Telegram Channels 👉 https://t.me/asgetpaid
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.