i think 40-42k is not bottom, with so many bad funds on btc. based on 4 year cycle that ends with bear market (2014-2018-2022) im expecting further dump into that trendline and even im not sure if thats the bottom notice that this is a weekly chart and dont expect it to dump to 34k without rallies
it can go both ways, a 4h candle close below the support can send the price to sub40k again, this time even deeper
in previous post i anticipated the possibility of re test of trend to squeeze the short, before collapse to next support close to 1.8T. although we need a daily close below the trend as strong rejection confirmation. expecting the moment to come soon
In last post when total market cap lost the trend at 2T i warned about upcoming dump and bitcoin falling sub 40k, however total market cap still has not recovered the bullish trend and instead is trading on a local downtrend, while we may see a rally and another retest of 2T or even above for short squeeze, I am expecting further collapse into 1.82T in near...
a breakdown of neck, which is also local bearish trend, can easily drive the price to 43k, and enough people FOMOing may even rally the price to 45-45.5k
tether dominance is in bullish channel, thats not a good news for crypto market. it might be good idea to consider not buying for long term till channel breakdown
total market cap just broke the down the support and now retesting it, expecting a big leg down, unless retaken, this can easily push bitcoin below 40k
although sometimes its better wait till 4h candle close, however it already broke out too deep that i dont think its fake, trade with risk management as btc is kinda sus
im expecting it at least to hit or get close to upper bearish trend, my TP is there, and if it breaks out of that one too, i may consider re entry
DODO on break out, lets see how far it can go. i dont have a target for it, so take profit on the way up
bearish trend line is being hit rapidly, this should be a signal that its about to break down. next bounce from 45.5k has a good chance of breaking it. but its highly recommended to put stop loss at your entry after price bounced upward, as another rejection from bearish trend can send the btc to 40-42k level
A successful retest of bearish trend might finally give this bnb the awaited pump
a successful test might give the queen the long awaited pump and love it desire
volume divergence suggesting a divergence and rejection from downtrend
I dont like it, but if this 4h candle doesnt close above the trendline, we may see corrections
a head and shoulder on 1h time frame, may push the price into a retest of previous downtrend
bitcoin is printing a bullish pennant on 1h time frame, MACD is bullish BINANCE:BTCUSDT