BitcoinShort
Bitcoin- Still flirting with support
I maintain my Monday's statement and I expect a weak Bitcoin at the beginning of the year and a very probable visit to the 40k zone.
As we can see, the price is trading in a narrow range and, in my opinion, 46k support holds, not because of the buying pressure, but lack of selling here.
Rallies above 47k are sold and only Bitcoin back above 48k would put bulls in a more favorable position.
On the other hand, considering the time that the coin has spent in range, a break under 46k would accelerate losses and 40k zone should be reached pretty quickly.
My strategy is to sell rallies and only a clear break above 50k would make me bullish
As we can see, the price is trading in a narrow range and, in my opinion, 46k support holds, not because of the buying pressure, but lack of selling here.
Rallies above 47k are sold and only Bitcoin back above 48k would put bulls in a more favorable position.
On the other hand, considering the time that the coin has spent in range, a break under 46k would accelerate losses and 40k zone should be reached pretty quickly.
My strategy is to sell rallies and only a clear break above 50k would make me bullish
Christmas & New Year Offer: 40% Discount- More Details: t.me/IacobMihai
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.