BTC/USDT
According to the previous analysis, the price failed to cross the resistance in the range of $ 55,000 and entered the loss zone after the failure of support.
Due to the heavy sales volume in the early hours of the break, Bitcoin price support has dropped to around $ 42,000 and even penetrated the medium-term trend in a short period of time and returned to the top of this range.
Relying on the previous analysis and re-examining the chart in the 4-hour timeframe, short-term uptrends are lost and only the mid-term uptrend is established on the chart.
Given the above points and the fact that the trading margin has been activated around $ 53,000, re-entering the market in the coming days carries a significant risk and there is a possibility of a re-fall in the price of Bitcoin and the market as a whole.
Accordingly, as long as the price of Bitcoin has not stabilized at least above $ 53,000, there is no confirmation that the uptrend will continue and the likelihood of falling again is high.
If the price stabilizes above the mentioned range, the analysis will be updated again.
According to the previous analysis, the price failed to cross the resistance in the range of $ 55,000 and entered the loss zone after the failure of support.
Due to the heavy sales volume in the early hours of the break, Bitcoin price support has dropped to around $ 42,000 and even penetrated the medium-term trend in a short period of time and returned to the top of this range.
Relying on the previous analysis and re-examining the chart in the 4-hour timeframe, short-term uptrends are lost and only the mid-term uptrend is established on the chart.
Given the above points and the fact that the trading margin has been activated around $ 53,000, re-entering the market in the coming days carries a significant risk and there is a possibility of a re-fall in the price of Bitcoin and the market as a whole.
Accordingly, as long as the price of Bitcoin has not stabilized at least above $ 53,000, there is no confirmation that the uptrend will continue and the likelihood of falling again is high.
If the price stabilizes above the mentioned range, the analysis will be updated again.
Trade active:
As expected, the price did not pass the mentioned resistance and we saw the prices fall again
With the price penetrating in the range of $ 46,000, the medium-term uptrend has also been lost, and the validity of the previous analysis and the forecast of continued decline in prices has gained more credibility.
By reviewing the chart in 4-hour timeframe and daily, the relative support of $ 40,500 has been successful so far, but with the continuation of the current situation, the mentioned support will also be lost.
According to the time analysis and cycles specified in the previous analysis, market conditions are expected to be the same for the next month, and during this period, the price of Bitcoin and other market currencies will move to lower support.
As mentioned before, trading in the current situation carries a very high risk and any wrong fluctuation in these areas can cause losses.
According to the above, as long as we do not see the completion of time cycles or price stabilization above the resistance range, the previous analysis remains in force and in case of any changes in the market trend will be updated again.
With the price penetrating in the range of $ 46,000, the medium-term uptrend has also been lost, and the validity of the previous analysis and the forecast of continued decline in prices has gained more credibility.
By reviewing the chart in 4-hour timeframe and daily, the relative support of $ 40,500 has been successful so far, but with the continuation of the current situation, the mentioned support will also be lost.
According to the time analysis and cycles specified in the previous analysis, market conditions are expected to be the same for the next month, and during this period, the price of Bitcoin and other market currencies will move to lower support.
As mentioned before, trading in the current situation carries a very high risk and any wrong fluctuation in these areas can cause losses.
According to the above, as long as we do not see the completion of time cycles or price stabilization above the resistance range, the previous analysis remains in force and in case of any changes in the market trend will be updated again.
Trade active:
As expected, with the beginning of the forecast downtrend, the price reached about $ 33,000 and returned to above $ 40,000 in response to this range.
Due to the fact that according to studies, the downward wave has not been completed, the probability of completing this wave is still high. Considering the price growth up to above $ 41,500 and the 48-hour stabilization above this range, the most important support is in this range, and as long as the price is above this range, it is prone to continue moving up to about 50,000-52,000.
If you have bought in lower numbers and in the support range, you can keep with a loss of 41,500, and also if the price reaches the resistance range, it will be out of the market again and wait for the confirmation of the continuation of the positive market trend.
According to the analysis of time and the validity of the ranges, in case of a re-fall of the price from the forecast range, the new support range is slightly lower than the previous wave and can penetrate below $ 30,000 even for a short time.
In case of loss of long-term market support or any change, the analysis will be updated again
As expected, with the beginning of the forecast downtrend, the price reached about $ 33,000 and returned to above $ 40,000 in response to this range.
Due to the fact that according to studies, the downward wave has not been completed, the probability of completing this wave is still high. Considering the price growth up to above $ 41,500 and the 48-hour stabilization above this range, the most important support is in this range, and as long as the price is above this range, it is prone to continue moving up to about 50,000-52,000.
If you have bought in lower numbers and in the support range, you can keep with a loss of 41,500, and also if the price reaches the resistance range, it will be out of the market again and wait for the confirmation of the continuation of the positive market trend.
According to the analysis of time and the validity of the ranges, in case of a re-fall of the price from the forecast range, the new support range is slightly lower than the previous wave and can penetrate below $ 30,000 even for a short time.
In case of loss of long-term market support or any change, the analysis will be updated again
Crypto Club TA team
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
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Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/IrCryptoClub