Bitcoin - Putting in perspective 3/3
Daily
On the Daily, BTC in a well-confirmed downtrend. It is being rejected from the 200 Daily EMA, still putting Lower Highs and Lower Lows.
The best short-term recovery would be 2 or 3 months sideways consolidation inside the range (41k - 29k). If the previous low is defended and BTC keeps closing Daily candles above 34k-35k (currently the POC), we might see a slow recovery.
There is a bullish sign in the funding rate and premium: now favoring the bulls. And the volume spike on the Crash indicated a bottoming action; maybe it was the bottom, or we are near it.
My opinion: It seems that the market still wants to see more pain. Maybe Twitter and media will spread more FUD in the coming weeks. Let's see.
#trading #btc #btcusd
On the Daily, BTC in a well-confirmed downtrend. It is being rejected from the 200 Daily EMA, still putting Lower Highs and Lower Lows.
The best short-term recovery would be 2 or 3 months sideways consolidation inside the range (41k - 29k). If the previous low is defended and BTC keeps closing Daily candles above 34k-35k (currently the POC), we might see a slow recovery.
There is a bullish sign in the funding rate and premium: now favoring the bulls. And the volume spike on the Crash indicated a bottoming action; maybe it was the bottom, or we are near it.
My opinion: It seems that the market still wants to see more pain. Maybe Twitter and media will spread more FUD in the coming weeks. Let's see.
#trading #btc #btcusd
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.