Hello everyone. BTC has been weak for the past few days with fake retest of 40000(key level with flip and whole number)
From the news, investors lost confidence in the crypto on the news that U.S. seizes $2.3 mln in bitcoin paid to Colonial Pipeline hackers. According to Reuters, the justice department managed to recapture the majority paid. So far, we don't know how they got the access to the private keys to unlock the btc wallet. In my opinion, it undermined the safety of the crypto that is supposed to be the most selling point.
From the technical perspective, the failure to challenge the key levels on both the weekly and daily tells me that the market is weak, and it's very likely to retest the previous low of 29500!
What's the next key level downside? 20000. Dude, that's another 33% from 29500!
As I mentioned in my previous posts, BTC is really news driven.
Stay safe and trade safe!
From the news, investors lost confidence in the crypto on the news that U.S. seizes $2.3 mln in bitcoin paid to Colonial Pipeline hackers. According to Reuters, the justice department managed to recapture the majority paid. So far, we don't know how they got the access to the private keys to unlock the btc wallet. In my opinion, it undermined the safety of the crypto that is supposed to be the most selling point.
From the technical perspective, the failure to challenge the key levels on both the weekly and daily tells me that the market is weak, and it's very likely to retest the previous low of 29500!
What's the next key level downside? 20000. Dude, that's another 33% from 29500!
As I mentioned in my previous posts, BTC is really news driven.
Stay safe and trade safe!
Yorum:
Price refused to go lower and reverse yesterday's drop by a 5% rally. What a wild move!
plan your trade and trade your plan
