BITCOIN - Daily TF
Updated
On a daily TF, The price of Bitcoin is currently below the Ichimoku cloud, which indicates that the current trend is declining. In recent days, the price of Bitcoin has been above the Ichimoku cloud for some time, but recent declines have once again slowed down the trend.
If Bitcoin can experience a good price recovery from the current range, it can go to the top of the Ichimoku cloud again and start a new uptrend from there. But if the price stays in the current range for a more extended period and the purchasing power also decreases; There will probably be more falls.
To start a bullish move, Bitcoin must stabilize at $ 44,000 and $ 45,000, and if the downtrend continues, the first Bitcoin support range will be $ 36,000 and then $ 34,000.
If Bitcoin can experience a good price recovery from the current range, it can go to the top of the Ichimoku cloud again and start a new uptrend from there. But if the price stays in the current range for a more extended period and the purchasing power also decreases; There will probably be more falls.
To start a bullish move, Bitcoin must stabilize at $ 44,000 and $ 45,000, and if the downtrend continues, the first Bitcoin support range will be $ 36,000 and then $ 34,000.
Comment
On a 4-hour TF, the 37,000 range is still significant support, and the price has been rejected by this support. For the short-term entry, you can enter by breaking 39,000 and partially stabilizing the candle.
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