Bitcoin | 50% Down vs 20% Down

昨天Bitcoin is now trading at ~60,000, which is 20% below the All-Time High of 74,000.

➖ If Bitcoin were trading at 37,000, which is 50% below the All-Time High, this would be good before a major political event. We could say, "Bitcoin is trading pretty low already, the correction was really strong so it can recover anytime." This is if the price was trading at 37K, below 40,000 or around 50% below the All-Time High.

➖ Bitcoin is currently trading at 60,000 which can be considered really strong. Bitcoin is trading near resistance. Since Bitcoin is trading near resistance we can say, "Bitcoin is really strong right now. Any kind of unexpected event, market shakeout or strong dynamic can produce a major crash. It has been sideways with a bearish bias for more than six months so be careful."

➖ A descending triangle is a bearish pattern. On this monthly chart, this pattern already broke to the downside. The down-move has been confirmed.

Namaste.

9 小時前

評論

Focus on the Altcoins. Visit my profile to see all the ones that are growing now.