Bitcoin (
BTCUSD) tumbled -21.99% on its highest weekly volume since June 2022, affirming my bearish case of its price and volume contraction on weekly chart over the past five months. BTCUSD remains languishing at the $16,000 level as $3 billion escaped crypto exchanges last week amid a bank run on fears of an FTX contagion.
The latestBTCUSD daily action have morphed out a further Bearish Pennant pattern prompting the risk of a further accelerated sell off in near term remains.
The level of support to watch forBTCUSD this week is revised lower to $15,630, a breakdown of the year to date low.
Bull Case: Recapturing last week losses and reclaim above $20,000.
Bear Case: Breakdown of $15,630, a year to date low.
BTCUSD) tumbled -21.99% on its highest weekly volume since June 2022, affirming my bearish case of its price and volume contraction on weekly chart over the past five months. BTCUSD remains languishing at the $16,000 level as $3 billion escaped crypto exchanges last week amid a bank run on fears of an FTX contagion.The latest
BTCUSD daily action have morphed out a further Bearish Pennant pattern prompting the risk of a further accelerated sell off in near term remains.The level of support to watch for
BTCUSD this week is revised lower to $15,630, a breakdown of the year to date low.Bull Case: Recapturing last week losses and reclaim above $20,000.
Bear Case: Breakdown of $15,630, a year to date low.
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.