BTC - Weekly Outlook!
Hello guys! Let's go for another weekly BTC analysis.
As found in a previous analysis, the crypto was without many volatilities. As always, her absence is a big draw and when she returns whoever has the most strength (Bears and Bulls) will win. In the present case it is the bears.
I have not very good news for traders on duty. The monthly bias has shifted sideways, and what was once an uptrend on the monthly chart SETUP is showing that in the current scenario we are within a bearish pivot. It would be very good if prices came to test the 1,618 FIB region of this bearish pivot soon, so that we can be sure that this point is a support region! See image below.
On a weekly basis, things still haven't changed much, as I reported in a previous analysis, and we remain within a huge bearish pivot. Will the “Triple Golden” region at 20.2K be reached? If so, the long-term uptrend will still hold, so think on the bright side!
Going to the daily chart we can see a “post-fall” accumulation, therefore, I suggest that this accumulation is a continuation of the decline. The SETUP used shows the bearish pivot that is likely to reach the 20.7K region, which corroborates the other pivots mentioned above. See below!
Will we have a last minute turnaround where bulls will push prices higher and avoid the worst? Let's wait for the scenes of the next chapters, and you have the opportunity here on TV the day to day of this interesting fight! Haha. It's worth reading this BTC analysis and drawing your own conclusions!
Do your analysis and good business.
Be Aware, If You Buy, Use Stop Loss!
See below for other graphic analysis!
As found in a previous analysis, the crypto was without many volatilities. As always, her absence is a big draw and when she returns whoever has the most strength (Bears and Bulls) will win. In the present case it is the bears.
I have not very good news for traders on duty. The monthly bias has shifted sideways, and what was once an uptrend on the monthly chart SETUP is showing that in the current scenario we are within a bearish pivot. It would be very good if prices came to test the 1,618 FIB region of this bearish pivot soon, so that we can be sure that this point is a support region! See image below.
On a weekly basis, things still haven't changed much, as I reported in a previous analysis, and we remain within a huge bearish pivot. Will the “Triple Golden” region at 20.2K be reached? If so, the long-term uptrend will still hold, so think on the bright side!
Going to the daily chart we can see a “post-fall” accumulation, therefore, I suggest that this accumulation is a continuation of the decline. The SETUP used shows the bearish pivot that is likely to reach the 20.7K region, which corroborates the other pivots mentioned above. See below!
Will we have a last minute turnaround where bulls will push prices higher and avoid the worst? Let's wait for the scenes of the next chapters, and you have the opportunity here on TV the day to day of this interesting fight! Haha. It's worth reading this BTC analysis and drawing your own conclusions!
Do your analysis and good business.
Be Aware, If You Buy, Use Stop Loss!
See below for other graphic analysis!
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