BTC... ranged move or limited correction before drop?
Updated
Hi everyone
chart below shows our 36700 support level act well to prevent more drop for now
but all indicators on 4H 12H and 1Day are moving in red zone that is not good
sign for bulls. adding the shadow of bear markets on Dow Jones, SP500 ....
give us warning for more drop in days coming. (Dow Jones chart below)
on the other hand tension between Russia an West is getting worse every day.
So below the yellow trend line price can move up and down before another drop
or if broke the trend line above 39K resistant we can expect around 41500$
but still can drop again.
I would be glad to see your chart idea and comment here, what do you think?
Enjoy the market
chart below shows our 36700 support level act well to prevent more drop for now
but all indicators on 4H 12H and 1Day are moving in red zone that is not good
sign for bulls. adding the shadow of bear markets on Dow Jones, SP500 ....
give us warning for more drop in days coming. (Dow Jones chart below)
on the other hand tension between Russia an West is getting worse every day.
So below the yellow trend line price can move up and down before another drop
or if broke the trend line above 39K resistant we can expect around 41500$
but still can drop again.
I would be glad to see your chart idea and comment here, what do you think?
Enjoy the market
Note
more details on chart below. notice the notification on the chartNote
rejected from 39K as expected.Trade active
dropped more as expectedNote
if hold the yellow trend lineNote
hit the target, it can also keep moving upward so next target around 44300 expectedNote
hit the next target as expected. now the market is in strong bull trend so it can keep moving upward. next resistant levels are in the chart.
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.