Bitcoin has reached the intersection of two key support levels (the white horizontal zone and the blue trendline), so we expect a price reversal from this area.
However, there are a few important points to consider:
Further Explanation on the Second Point (Bearish Scenario):
The correction before the downtrend continuation could play out in two ways:
I lean more toward the bearish scenario because:
However, there are a few important points to consider:
- Even if the trend reverses upward from here, there’s a chance that price could briefly dip below this zone to sweep stop losses before reversing. Don’t rush into trades—wait for confirmation.
- In my view, the trend won’t reverse from here. Bitcoin might only see a minor correction (around a 38% Fibonacci retracement of the previous wave) before resuming its downtrend. This makes buying risky and requires high trading experience for entry.
Further Explanation on the Second Point (Bearish Scenario):
The correction before the downtrend continuation could play out in two ways:
- First: Price corrects before breaking this key support zone, then drops further.
- Second: Price first breaks below this zone, then pulls back to retest it before continuing its decline.
I lean more toward the bearish scenario because:
- Market sentiment is currently risk-off.
- The S&P 500 chart also suggests a correction is needed before the downtrend continues.
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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.