Has Bitcoin's downtrend begun?
Recent Downtrend:
The price has dropped from around $99,000 to approximately $86,000, indicating significant selling pressure.
The Kijun-sen (red Ichimoku line) is trending downward, and the price is below the Kumo cloud, confirming a bearish trend.
Ichimoku Cloud:
The future cloud (Senko Span A and B) is wide and bearish, indicating strong resistance at higher levels.
The Tenkan-sen (blue line) is below the Kijun-sen, which is a sign of market weakness.
HARS Indicator:
It is in the oversold area, which could signal a temporary correction or rebound.
If a bullish divergence appears, there is a chance of short-term price recovery.
Conclusion:
✅ The overall trend is bearish, but due to oversold conditions, a short-term pullback or correction is possible.
✅ If the price stabilizes above $89,000, we could see a move towards $92,000.
❌ A break below the $85,000 support level could lead to further declines towards $82,000 or even $72,000.
I'm in a short position for the short term and will definitely set my stop-loss around $89,000. Wishing you success and profitable trades!" 🚀
The price has dropped from around $99,000 to approximately $86,000, indicating significant selling pressure.
The Kijun-sen (red Ichimoku line) is trending downward, and the price is below the Kumo cloud, confirming a bearish trend.
Ichimoku Cloud:
The future cloud (Senko Span A and B) is wide and bearish, indicating strong resistance at higher levels.
The Tenkan-sen (blue line) is below the Kijun-sen, which is a sign of market weakness.
HARS Indicator:
It is in the oversold area, which could signal a temporary correction or rebound.
If a bullish divergence appears, there is a chance of short-term price recovery.
Conclusion:
✅ The overall trend is bearish, but due to oversold conditions, a short-term pullback or correction is possible.
✅ If the price stabilizes above $89,000, we could see a move towards $92,000.
❌ A break below the $85,000 support level could lead to further declines towards $82,000 or even $72,000.
I'm in a short position for the short term and will definitely set my stop-loss around $89,000. Wishing you success and profitable trades!" 🚀
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.
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.