Four Ominous Signs for Bitcoin

5 Oca 2022

Bitcoin is still maintaining the range between 47.4K and 45.6K. We have continued to establish value in this area since the tail end of 2021. The lack of buying interest, low liquidity, choppy trading, and very narrow range aren't positive signs for the flagship cryptocurrency. Every time we attempt a small rally, it is immediately batted down, confirmed by red triangles on the KRI. The level 45.6K does appear to be providing support, but the longer we keep testing this level, the more comfortable we are in breaking it. If so, 45.0K and 43.8K are the first levels of support below, but in the event of a proper crypto dump, we could easily feel out the low 40K's. If we can muster the strength to break 47.4K, 48.2K is the next target.

5 Oca 2022

Not

Boom!! As discussed all week, we have finally seen the dip down to 43.8K in Bitcoin. We noted the price action seemed ominous and were expecting a dump. Our levels held perfectly though! Cheers! 🤑😎