#BTC
Apparently, the market will not be difficult to touch 3000 before forming a rebound, followed by growth. Despite the huge decline in the last period of time, we are still bearish and can go lower. At the level of about 3000, dense support was formed, which even with the continuation of the bearish trend from the first attempt will be extremely difficult to overcome. Stepping below, in the region of 3000-3200, we will get a zone of high demand, and further growth may reach resistance around 5000, which will be difficult to overcome and now there are very few chances for that.
Apparently, the market will not be difficult to touch 3000 before forming a rebound, followed by growth. Despite the huge decline in the last period of time, we are still bearish and can go lower. At the level of about 3000, dense support was formed, which even with the continuation of the bearish trend from the first attempt will be extremely difficult to overcome. Stepping below, in the region of 3000-3200, we will get a zone of high demand, and further growth may reach resistance around 5000, which will be difficult to overcome and now there are very few chances for that.
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Scenario reduction to the range of 3200-3000 remains relevant. This range looks like a good opportunity for another bounce. It is likely that Bitcoin will show a desire to test the level of 5000, but now there are very few chances for that.
Scenario reduction to the range of 3200-3000 remains relevant. This range looks like a good opportunity for another bounce. It is likely that Bitcoin will show a desire to test the level of 5000, but now there are very few chances for that.
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At the moment we have the opportunity to decline a little more. Stepping below, in the region of 3000-3200, we get a zone of high demand, and further growth can reach resistance around 5000.
At the moment we have the opportunity to decline a little more. Stepping below, in the region of 3000-3200, we get a zone of high demand, and further growth can reach resistance around 5000.
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We continue to follow the main scenario of this post. The market still has good chances to touch 3000 (it is possible to punch a little below 2900 or so) before attempting to turn to levels up to 5000. Next, you need to look at what is happening, it is quite possible that growth to 5000 will only be a correction of the last big drain and Bitcoin will further continue the global downtrend below 3000.
Right now, the market is very neutral: if we break through local resistance around 3640-3750, then we move up, if we break through support around the specified area (3300, and we fix below it), then we continue eat it fall. The priority of the short at the moment is relevant, from whom it is already open from the previous levels - we keep using the stops, it makes no sense to open new shorts or long positions right now, it’s better to watch and stay neutral.
Right now, the market is very neutral: if we break through local resistance around 3640-3750, then we move up, if we break through support around the specified area (3300, and we fix below it), then we continue eat it fall. The priority of the short at the moment is relevant, from whom it is already open from the previous levels - we keep using the stops, it makes no sense to open new shorts or long positions right now, it’s better to watch and stay neutral.
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#BTC
Apparently the decline scenario remains relevant, the volume decreases. If the area around 3200 does not hold the pressure of the market, then we are waiting for the movement to the level of 3000.
Apparently the decline scenario remains relevant, the volume decreases. If the area around 3200 does not hold the pressure of the market, then we are waiting for the movement to the level of 3000.
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#BTC
On the scale of one month you can clearly see how the price approaches 3000 times (more than once voiced).
On a weekly scale, today we look worse than yesterday, the candlestick closes below the past low - a rather bad signal. Now it is better to remain neutral, bullish signs are still present and it is better to observe from which direction the market will go. If we close a little lower, then we will be even more bearish next week, if we manage to close higher, then the next weekly week we should expect the formation of a bullish candle.
Bitcoin continues to move in the descending channel. It was not possible to overcome the important resistance around 3650-3750 and then it is not enough to do it, most likely we will continue to move down the channel. Visible support on a 1-day scale does not look very good, there is little chance of holding the price. Candles look neutral, the next candle may be green, but after it we will probably get another red one with a breakdown of support and a step down.
On a 12-hour scale, the appearance of a doji candlestick is positive, which can lead the market to a resistance test. But globally the market is still neutral and it is now quite dangerous to open long positions or if only with a minimum stop. Even an impulsive breakdown to resistance will not indicate a reversal or a globally bullish character, then most likely we will go down again.
#BTC
On the scale of one month you can clearly see how the price approaches 3000 times (more than once voiced).
On a weekly scale, today we look worse than yesterday, the candlestick closes below the past low - a rather bad signal. Now it is better to remain neutral, bullish signs are still present and it is better to observe from which direction the market will go. If we close a little lower, then we will be even more bearish next week, if we manage to close higher, then the next weekly week we should expect the formation of a bullish candle.
Bitcoin continues to move in the descending channel. It was not possible to overcome the important resistance around 3650-3750 and then it is not enough to do it, most likely we will continue to move down the channel. Visible support on a 1-day scale does not look very good, there is little chance of holding the price. Candles look neutral, the next candle may be green, but after it we will probably get another red one with a breakdown of support and a step down.
On a 12-hour scale, the appearance of a doji candlestick is positive, which can lead the market to a resistance test. But globally the market is still neutral and it is now quite dangerous to open long positions or if only with a minimum stop. Even an impulsive breakdown to resistance will not indicate a reversal or a globally bullish character, then most likely we will go down again.
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The rebound scenario to 5000 is still relevant, but now the market looks weak and go down below 3000 before the end of the year the odds are very high. Ongoing support does not inspire confidence, and the emerging triangular pattern on a 4-hour chart looks very bad.
The rebound scenario to 5000 is still relevant, but now the market looks weak and go down below 3000 before the end of the year the odds are very high. Ongoing support does not inspire confidence, and the emerging triangular pattern on a 4-hour chart looks very bad.
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As written earlier: support is weak, the market looks bad. At the moment, we observe breakdown of the lower edge of the pattern, which, in the case of fixation below, only strengthens the further decline scenario. The level at which we held now looks like resistance and if the breakdown is not false, then it will be very difficult to rise back at the moment. Every day, the probability of breaking through the last minimum and stepping lower all the more. Considering the possibilities of a positive, there is a chance to form a double bottom, so we recommend watching the market.
As written earlier: support is weak, the market looks bad. At the moment, we observe breakdown of the lower edge of the pattern, which, in the case of fixation below, only strengthens the further decline scenario. The level at which we held now looks like resistance and if the breakdown is not false, then it will be very difficult to rise back at the moment. Every day, the probability of breaking through the last minimum and stepping lower all the more. Considering the possibilities of a positive, there is a chance to form a double bottom, so we recommend watching the market.
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Bitcoin remains bearish, both globally and currently. Consolidation below recent support, which has been pierced, rather indicates the likelihood of getting one more step below, instead of forming a rebound to 5000 (for the moment). The RSI is too oversold, on the scale of the month it lasts a long time in the oversold zone and may continue this movement for some time. On a weekly scale, the RSI has dropped to record levels and reached its minimum level and may begin to increase, but in the month format, the market will still remain oversold. Monthly MACD also looks bad and has the potential for further decline. Judging by the formation of candles, this month we are staying near the current levels and most likely we will go down to 3000 and even be able to break through it. The week scale candle closes below the previous one, which is very bad and the next weekly candle will most likely show a new low. For the near future, there are no bull signals. On a 4-hour scale, we consolidate under the broken support, and most likely the result of consolidation will be the next large red candle. At the moment, a general view of Bitcoin shows an absolutely bear market.
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The market still looks bearish, both in small and large scale, at least the bulls show themselves very weakly. We stay in the middle of the channel, which was published in the last post. The area around 3000 remains a strong magnet for the direction of the market.
The market still looks bearish, both in small and large scale, at least the bulls show themselves very weakly. We stay in the middle of the channel, which was published in the last post. The area around 3000 remains a strong magnet for the direction of the market.
In yesterday’s post we considered a high probability of a decline, which we are seeing now.