-Who will pray the rosary at the end of this BTC fight, “bulls” or “bears”?
-For many months the “crypto” has been at full steam in a downtrend, and has not found the strength, or rather reasons, to end its predominant trend and go back up!
-The above chart pattern suggests that BTC is working on a large “bullish descending wedge”.
-If so, we have a long way to go to the “2nd third” of the descending triangle to find support and go back up.
-According to the triangle plot (descending wedge), the “thirds” supports are: $17.8K, $10.5K and $6.3K.
-It is worth remembering that the first support of the “1st third” at $17.8K was, in parts, respected, as we had prices sambaing above this region for four months until it made its decision and lost support, falling to the region of $15 ,5K. The “1st third” support coincides with the December 2017 top.
-If the figure is taken seriously, we may see prices looking for support in the “2nd third” region, at $10.5K, the region of strong resistance from the “pre-covid” period.
-The quest for the “3rd third”, in my opinion, will only occur if the “fundamentals” of crypto (if any) deteriorate further.
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-For many months the “crypto” has been at full steam in a downtrend, and has not found the strength, or rather reasons, to end its predominant trend and go back up!
-The above chart pattern suggests that BTC is working on a large “bullish descending wedge”.
-If so, we have a long way to go to the “2nd third” of the descending triangle to find support and go back up.
-According to the triangle plot (descending wedge), the “thirds” supports are: $17.8K, $10.5K and $6.3K.
-It is worth remembering that the first support of the “1st third” at $17.8K was, in parts, respected, as we had prices sambaing above this region for four months until it made its decision and lost support, falling to the region of $15 ,5K. The “1st third” support coincides with the December 2017 top.
-If the figure is taken seriously, we may see prices looking for support in the “2nd third” region, at $10.5K, the region of strong resistance from the “pre-covid” period.
-The quest for the “3rd third”, in my opinion, will only occur if the “fundamentals” of crypto (if any) deteriorate further.
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
