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Brace for BTC to go below $20K
As everyone is well aware the NASDAQ has continued its bearish trend and BTC along with it.
As per previous post, price has quickly travelled passed the low volume profile region and is now relying on a small high vol profile node for support.
My opinion with everything that is happening in the macro wold, this support will not hold as it is already not very strong to begin with.
Next support level is around the 20K level, which you can see from the vol profile nodes, is only a little bit better the current level.
Failing this BTC can really hit back to previous strong vol profile support around the
12K mark.
I for one am looking very closely at these levels and will be looking for entry around or below the 20K price level.
This is a good opportunity for those who have missed out to get in an incredible price point, as long as you believe in the long story for BTC.
As per previous post, price has quickly travelled passed the low volume profile region and is now relying on a small high vol profile node for support.
My opinion with everything that is happening in the macro wold, this support will not hold as it is already not very strong to begin with.
Next support level is around the 20K level, which you can see from the vol profile nodes, is only a little bit better the current level.
Failing this BTC can really hit back to previous strong vol profile support around the
12K mark.I for one am looking very closely at these levels and will be looking for entry around or below the 20K price level.
This is a good opportunity for those who have missed out to get in an incredible price point, as long as you believe in the long story for BTC.
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