Bears continue to dominate the crypto markets as almost all the major crypto assets fell by more than 7% in the last week. BTC formed a weekly bearish candlestick pattern with ~ 9% decline, also, BTC witnessed is its 6th consecutive week of institutional outflows. However, it is still holding the $30-$31K support zone and at the time of writing, BTC is trading...
BTC continues remain bearish...
Death cross almost done...
Important levels to watch now...
Upside - 37K, 42K
Downside- If 35200 breaks, high chance of 32K
Upside- If 42K breaks, BTC rally will start again
Downside- If 32K breaks on daily, high chance of 18K
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Welcome to this quick update everyone,
In Daily timeframe Chart, Death Cross Confirmed in 1D Chart ✅
So far Bitcoin is Moving Inside the 34-41k S/R Range..
RSI indicator is Making Lower Highs Since 8th Jan (Downtrend)
If Daily candle Closed Below the 34.5k Support, Bitcoin Might Retest the 31k Horizontal Support Area 📉
A close above...
Just a continuation of previous idea. (Link below)
Now that the death cross is confirmed (on MAs, namely 50 and 200 MAs), I believe the price action I'm guessing is on track. We'll see more downside soon (down to 20K-ish). That, of course, given there is no external influence (Elon's tweet for example).
When shows up, Death cross historically mirrors the...
Just to give a visual guidance on the relation between BTC Halving and price action including any Golden/Death Crosses found therein.
Disclaimer: precision maybe a little bit off as I made this on my smartphone.)
A Golden Cross appeared on 10/9/2021 with the following criteria:
1. Existing uptrend
2. Confirmation of GC on 11/18/2021
3. Continuation of an uptrend
This Bull run lasted until a Death Cross was spotted on 3/30/2021 with the following criteria:
1. There was an existing uptrend
2. DC occurs
3. Confirmation of existing downtrend
I conducted my analysis on a 4 hour...
The yellow trend line has not been broken since 2017. Zoom in and witness the support level is around 6445. This is a very crucial support level. During Feb low (6000), the trend line was still active. MACD also suggesting sell-off and RSI suggesting oversold.
• On 4H chart, BTC is forming a double bottom with the base at 6000. If this is followed,...