As btc was near the supply zone it got regected by the poc and it is returning.
The rejection was very strong and now that the supply zone is tested i think btc can continue to move down.
Bitcoin got a dump pump 'n dump today. I believe it's due to macro economic factors. Nevertheless as I posted on Twitter already, dips like this can happen. A dip of 10% is nothing compared to the dips that occured in the last bull cycle. We've seen a lot of greed in the market and it's something to really take care off.
I'll remain bullish in the short term if...
Time frame- 4H
Exchange- Binance
Coin- BTCUSDTPERP
Chart includes the following Indicators
1. My own Custom Indicator - " Raptor Super Indicator "
As per the above indicator composition:
The current price level is already below EMA-13, EMA-21 & EMA-200 => Highly Bearish
The current Parabolic Support and Resistance levels shows downward movement => ...
BINANCE:AXSUSDTPERP
AXS is one of the coin in which most of the traders are constantly looking for a short position, cause you know it pumped like crazy. But, the problem is that it goes down for a little while, then again it pumps heavily. This is because market structure is still Bullish. Hence, I am going to tell you when to Take a Short Entry. As you can see...
I do beleive Bitcoin has seen such a straight up performance it's hard to say if it'll have the 20% correction that's needed to keep moving along at a healthy and not parabolic rate but Im thinking it'll reach down to the support levels of about 25k maybe not and only 26k so thats the target 26k
Coin Market Cap Analysis by Crypto Earnings on 1 week chart. Both the situations are mentioned as market can breakout upper side then we can expect Bull run. If CMC breakout downwards then BTC can Dump upto @2800 level
