capitulation bottom in extreme close
Bitcoin today breaks through a strong resistance level and drops to 19,000 for the first time.
Globally, I can say that bitcoin has two sides: the first is to fall as low as possible, to a reasonable point, where large players get rid of a large number of small miners, traders, investors, and then move on to the energy accumulation phase. And the second is a negative situation, when an unrestrained fall can lead the price to fall to its minimum values.
On the chart, I have identified three scenarios:
1. False breakdown of the level of 19540. If the price enters the zone above the level and consolidates, there is a chance to see a Bitcoin rollback.
2. Continuation of the fall to the liquidity zone of 16200, after which there may be a rollback - as this is a key zone at the moment. It is below 16200 that there are many orders.
3. Refresh global lows and drop below 11700.
Globally, I can say that bitcoin has two sides: the first is to fall as low as possible, to a reasonable point, where large players get rid of a large number of small miners, traders, investors, and then move on to the energy accumulation phase. And the second is a negative situation, when an unrestrained fall can lead the price to fall to its minimum values.
On the chart, I have identified three scenarios:
1. False breakdown of the level of 19540. If the price enters the zone above the level and consolidates, there is a chance to see a Bitcoin rollback.
2. Continuation of the fall to the liquidity zone of 16200, after which there may be a rollback - as this is a key zone at the moment. It is below 16200 that there are many orders.
3. Refresh global lows and drop below 11700.
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