#btc has been tapping MA50 since long. It's been well supported by trendline support and lower Bollinger band. I am opening long position here with tartget 37k where next supply is.
Btc is ranging. Consolidated, tested the inefficiency. No way it's bear . Imvalidate only after 32k broken
This is how i Think wyckoff might play out for BTCUSDT
however I also think there could be a bearish movemen in BTCUSDT due to breaking the lower bollinger bandso btc is sure to fall to lower than 28K for sure in coming times
As we can see on the daily timeframe, starting from May 20, the price moved in a sideways channel and the BTCUSDT price jumped from 33,000 to 40,000. On June 21, the price broke through the support line at 33,000 and began to fall. Most likely the price will drop to 25,000.
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Good luck and big profits.
Supports and resistances shown on chart. This is a very short trade with less target.
This is not an advice, it is just an idea. Kindly do your own research then trade. Thank you.
Market is not showing enough momentum to the upside and is corrective sideways. There is a higher probability for one more sell off in the near future to the lows.
As we can see for 10 days, the price moves sideways, either testing the support level at $ 33448, then testing the resistance level at $ 42191. Now the price has tested the support level and bounced back. It is quite possible that the price will now drop to the support level again and break it, then the price may drop to $ 30,000. If the price rises, it will test...
Buying BTC at around the current levels. There is a higher probability for a demand in these levels and the market to rebound. But I do expect more correction and is also prepared to add on to the position as price structure evolves.
Price has moved up significantly from the crash that happened a few days back and is approaching a double top level. There is not enough momentum in the market and the move is not impulsive enough. There is a higher probability for a further sell off from those levels unless a major buying pressure comes into play.
Bitcoin has made its peak at $60000. Will fall down to $38000-$40000 to look for a good support level in that area. Lets see if markets turn around after that, or the bears have arrived.
