With the FUD and SEC manipulation,
BTCUSD
price dropped heavily and didn't join the technology rally. Though that might be a sign for bitcoin is becoming a risk-off asset. With a correction in the stock markets we can see a move towards 35k.
There are two good spots for long entry if the price drops further. First stop is the trendline which is coinciding with weekly second support around 24.1k. The price may further go down as a fake breakout toward 23.6k area. This area has also high volume support from previous breakout. Let's see when this FUD ends and our mighty bitcoin shows some strength.
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
BTCUSD
price dropped heavily and didn't join the technology rally. Though that might be a sign for bitcoin is becoming a risk-off asset. With a correction in the stock markets we can see a move towards 35k. There are two good spots for long entry if the price drops further. First stop is the trendline which is coinciding with weekly second support around 24.1k. The price may further go down as a fake breakout toward 23.6k area. This area has also high volume support from previous breakout. Let's see when this FUD ends and our mighty bitcoin shows some strength.
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.