Hello, dear subscribers and TradingView readers!
Our traders team has prepared for you daily bitcoin technical analysis.
Yesterday's fall was quite strong and nervous, because we have not observed such a candle of 300-500 points for a long time. Actually, what now?
The situation is extremely ambiguous now. On the one hand, a bearish triangle is clearly visible on the candles, which is able to bring the price up. But on the other hand, in the shadows you can draw a channel and see the “bearish rectangle” shape that should go out. In addition, there is a noticeable divergence in price and volume, which should go down. Therefore, now the opportunity to go down is somewhat higher than to go up, but this output is unlikely to be strong. Maximum, where the price will reach, is likely to be the level of 5800-5900, because there is already strong support. Also 1H StochRSI says about possible drop, and 4H StochRSI started to bend down.
In any case, entering a position will be extremely risky, so you need to either not trade or imagine a way out and be able to quickly turn over to the momentum.
Thank you for your attention, have a good evening!
Our traders team has prepared for you daily bitcoin technical analysis.
Yesterday's fall was quite strong and nervous, because we have not observed such a candle of 300-500 points for a long time. Actually, what now?
The situation is extremely ambiguous now. On the one hand, a bearish triangle is clearly visible on the candles, which is able to bring the price up. But on the other hand, in the shadows you can draw a channel and see the “bearish rectangle” shape that should go out. In addition, there is a noticeable divergence in price and volume, which should go down. Therefore, now the opportunity to go down is somewhat higher than to go up, but this output is unlikely to be strong. Maximum, where the price will reach, is likely to be the level of 5800-5900, because there is already strong support. Also 1H StochRSI says about possible drop, and 4H StochRSI started to bend down.
In any case, entering a position will be extremely risky, so you need to either not trade or imagine a way out and be able to quickly turn over to the momentum.
Thank you for your attention, have a good evening!