irCryptoClub - BTC/USDT - TOTAL - TOTAL2
Updated
BTC/USDT
The next 24 hours are very important for the continuation of the market movement and it is expected (by checking in time frames below 1 hour) the price correction will be completed in a week to ten days.
By re-examining the oldest bitcoin chart, given the downtrend of the $ 40,000 range and the break of significant support around $ 36,500, one can expect the correction to be larger to the range below $ 20,000.
Accordingly, if the price of Bitcoin falls below $ 23,800, the price correction can continue between $ 16,000 - $ 18,000.
We should add that the mentioned price correction based on the technique is quite logical and there is no strange scenario in it, also by examining both #TOTAL and # TOTAL2 indices, the same result can be reached in different cases.
According to the volumetric index data, both of which have lost their most important support range, the total market cap index is up to about $ 680-780 billion and the Altcoins volume index is down to about 430-480 billion, and relying on Volumetric statistics and assuming the bitcoin's dominance is constant and an estimate of a 2 to 3% increase in the tether's dominance can be obtained from the price range specified as bitcoin support.
Again, we recommend that you do not enter the market at all until the new trend is determined, considering the exit in the price peaks, and just enjoy the fall in prices;)
The current market cap for lower timeframes is around $ 35,000 and as long as the price is below this range there is no confirmation to start an uptrend and the proposed scenario will be valid.
The next 24 hours are very important for the continuation of the market movement and it is expected (by checking in time frames below 1 hour) the price correction will be completed in a week to ten days.
By re-examining the oldest bitcoin chart, given the downtrend of the $ 40,000 range and the break of significant support around $ 36,500, one can expect the correction to be larger to the range below $ 20,000.
Accordingly, if the price of Bitcoin falls below $ 23,800, the price correction can continue between $ 16,000 - $ 18,000.
We should add that the mentioned price correction based on the technique is quite logical and there is no strange scenario in it, also by examining both #TOTAL and # TOTAL2 indices, the same result can be reached in different cases.
According to the volumetric index data, both of which have lost their most important support range, the total market cap index is up to about $ 680-780 billion and the Altcoins volume index is down to about 430-480 billion, and relying on Volumetric statistics and assuming the bitcoin's dominance is constant and an estimate of a 2 to 3% increase in the tether's dominance can be obtained from the price range specified as bitcoin support.
Again, we recommend that you do not enter the market at all until the new trend is determined, considering the exit in the price peaks, and just enjoy the fall in prices;)
The current market cap for lower timeframes is around $ 35,000 and as long as the price is below this range there is no confirmation to start an uptrend and the proposed scenario will be valid.
Note
#TOTALNote
TOTAL2Trade closed: target reached
BTC/USDT
According to previous analyzes, the price of bitcoin is slowly reaching our expected range and is expected to end in the coming weeks.
The lowest price recorded in the last 24 hours is $ 20,800 and our main support is around $ 18,000 to $ 20,000 based on a 4-hour analysis.
By checking the higher timeframes, the price correction is not over and the bitcoin price movement can continue up to the mentioned range. According to the volume indices #TOTAL and # TOTAL2, the possibility of price correction continues and as long as all 3 indicators are not within their support range, we do not have a valid confirmation to return to the trend.
In terms of time, assuming the analysis is valid, a new long-term uptrend will occur in August.
If you remember, in the attached analysis, the support price of Bitcoin was in the range of $ 16,000 to $ 18,000, and the only reason for the change in the support range in the new analysis is the new wave structure.
The loss of bitcoin if bought in the above range is penetration to $ 17,000
If necessary, the analysis will be updated again.
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Follow us on Telegram at t.me/CryptoClub_Technicalanalyst
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