Good morning/afternoon/evening traders,
Another boring week for the BTC/USD price! Now, the BTC1! price has formally dropped below the purple box and may potentially fall below the lower boundary of the rising channel. This could be a sign of a further correction as we have discussed in the last two weeks. The price movement in the next week will be extremely important to decide the direction of the crypto market. 8785 USD is an important price section to look at on the daily chart. If the BTC1! price falls below this target, then a lower low is confirmed. A downtrend will be likely to follow.
But the bulls should not give up anytime soon. Few positive signs are still hanging around in the market. “Crypto Fear & Greed Index” is still in the fear zone. The market is evidently not greedy yet if we trust the algorithm of this ensemble indicator. Besides, the MACD on the daily chart has spent over "1.5 month" in the bearish zone. This is a very long period based on the history of BTC1!. Shouldn't it turn bullish soon to reset the oscillator?
Still interesting and entertaining to watch this asset! Let's see what will happen in the next week and an update will be posted.
Please like, comment and follow me if you’re interested in this idea.
Wish you have a great weekend! And again, stay safe and be careful of COVID-19.
HakoneDream
Another boring week for the BTC/USD price! Now, the BTC1! price has formally dropped below the purple box and may potentially fall below the lower boundary of the rising channel. This could be a sign of a further correction as we have discussed in the last two weeks. The price movement in the next week will be extremely important to decide the direction of the crypto market. 8785 USD is an important price section to look at on the daily chart. If the BTC1! price falls below this target, then a lower low is confirmed. A downtrend will be likely to follow.
But the bulls should not give up anytime soon. Few positive signs are still hanging around in the market. “Crypto Fear & Greed Index” is still in the fear zone. The market is evidently not greedy yet if we trust the algorithm of this ensemble indicator. Besides, the MACD on the daily chart has spent over "1.5 month" in the bearish zone. This is a very long period based on the history of BTC1!. Shouldn't it turn bullish soon to reset the oscillator?
Still interesting and entertaining to watch this asset! Let's see what will happen in the next week and an update will be posted.
Please like, comment and follow me if you’re interested in this idea.
Wish you have a great weekend! And again, stay safe and be careful of COVID-19.
HakoneDream
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน