Hey everyone, what’s your view on Bitcoin at the moment?
From a technical standpoint, Bitcoin is clearly in a downtrend, moving within a descending channel that shows strong bearish momentum. The price is currently at an important support level after a significant drop. As the market approaches the upper boundary of the channel, the convergence of support levels could trigger renewed selling interest.
I believe the price could dip back to around $100,000, close to the lower end of the channel. At that point, we might see some initial buying pressure, with buyers possibly entering long positions. On the other hand, sellers could consider shorting if the price continues to break lower.
Do you agree with this short-term outlook?
From a technical standpoint, Bitcoin is clearly in a downtrend, moving within a descending channel that shows strong bearish momentum. The price is currently at an important support level after a significant drop. As the market approaches the upper boundary of the channel, the convergence of support levels could trigger renewed selling interest.
I believe the price could dip back to around $100,000, close to the lower end of the channel. At that point, we might see some initial buying pressure, with buyers possibly entering long positions. On the other hand, sellers could consider shorting if the price continues to break lower.
Do you agree with this short-term outlook?
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Free Telegram Signals: t.me/+E4ZNW3ZeXiQ1Y2M9
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.