Bitcoin, which is falling strongly, where is the bottom ?
Recently, the long-low low of 17.6k has been breached, and Bitcoin has been falling very strongly.
I'm continuing to make a cascade of declines by renewing our lows, and today we're going to look for a bitcoin rebound in a big picture on a daily basis.
First of all, it is a daily decline trend line that comes down from 69k (reporting point).
It faced resistance three times, but then broke through the downward trend, resulting in a significant rebound in the short term.
Since then, it's been falling, and it's still above this trend line, so if it falls very strongly, it's likely that this trend line will act as a support line. (Because the trend line angle is too steep, it's not expected to touch it if it's not a very strong drop.)
*If we leave this trend line downward, we believe that the market situation will be very bad.
It's the strongest line of sale in a day's candle.
It is the 18.6k to 18.8k line, and the section originally served as a support section, but it is now acting as a resistance section after the departure from the lower part of the sale stand.
If you support us through this section, we can expect an increase for the time being.
It will be a line to check when there is an increase.
If additional low point renewals occur in the current situation and fall significantly, it is likely to rebound from 12.4 to 12.6k.
When using the Fibonacci expansion values, it is divided into three waves from the reporting point (Red Box - Green Box - Red Box), 12.5k is used where the A and C values are 1:1.
And it's a place where the highs formed in 2019 - 2020 overlap.
This section used to act as a resistance line as a high point, but it broke through, so it can act as a support line now.
It looks like a meaningful section because it overlaps the 1:1 digit with the previously formed high point support line!
Starting with the FTX issue, the credibility of the bitcoin market is gradually shaking. There are too many lateral factors in the intestine and the volatility is strong, so the difficulty is very high.
Watch out for brain trafficking and make a smart investment!
I'm continuing to make a cascade of declines by renewing our lows, and today we're going to look for a bitcoin rebound in a big picture on a daily basis.
First of all, it is a daily decline trend line that comes down from 69k (reporting point).
It faced resistance three times, but then broke through the downward trend, resulting in a significant rebound in the short term.
Since then, it's been falling, and it's still above this trend line, so if it falls very strongly, it's likely that this trend line will act as a support line. (Because the trend line angle is too steep, it's not expected to touch it if it's not a very strong drop.)
*If we leave this trend line downward, we believe that the market situation will be very bad.
It's the strongest line of sale in a day's candle.
It is the 18.6k to 18.8k line, and the section originally served as a support section, but it is now acting as a resistance section after the departure from the lower part of the sale stand.
If you support us through this section, we can expect an increase for the time being.
It will be a line to check when there is an increase.
If additional low point renewals occur in the current situation and fall significantly, it is likely to rebound from 12.4 to 12.6k.
When using the Fibonacci expansion values, it is divided into three waves from the reporting point (Red Box - Green Box - Red Box), 12.5k is used where the A and C values are 1:1.
And it's a place where the highs formed in 2019 - 2020 overlap.
This section used to act as a resistance line as a high point, but it broke through, so it can act as a support line now.
It looks like a meaningful section because it overlaps the 1:1 digit with the previously formed high point support line!
Starting with the FTX issue, the credibility of the bitcoin market is gradually shaking. There are too many lateral factors in the intestine and the volatility is strong, so the difficulty is very high.
Watch out for brain trafficking and make a smart investment!