Cryptorphic

#BTCUSD Broke below. Is it Bearish or Bounce Incoming?

Cryptorphic 已更新   
BYBIT:BTCUSD   None
Bitcoin broke below the 30k level. As per my last BTC chart, this is the second scenario in play.
For Bulls, I know this is bad but not the END!
There's a lack of volume in the market.
Most importantly there's no fundamental stimulus to push positive rallies.

Bitcoin is trading below all important moving averages looking at the pattern it seems likely that a bounce is incoming from the lower trendline of the channel.
THE RSI shows a falling wedge pattern which is certainly going to break to the upside pushing the price higher.
Too much information given in the chart, do observe.

Possible areas for bounce:

28.2k
27k
24k

Just keep in mind if BTC doesn't maintain this channel by the weekly close we can retest as low as 24k in the coming weeks.
I believe a Bounce is incoming before the weekly close.
Do hit the like button if you like this update and share your views in the comment section.


Stay tuned


#PEACE



交易進行:
評論:
Spot on.

Free Telegram Daily Futures signals:- telegram.me/thecryptorphic

Join My ELITE CLUB:- bit.ly/Join_elite
免責聲明

這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。