[Bitcoin] 37k-34k-25k-12k??
#Crack #Bitcoin #Binance #Daily
- Even the 41.5k support failed and the green mid-trend line support also failed.
- Since the support area at 37k-37.7k overlaps with the lower end of the orange bullish channel, the area 37k-37.7k appears to be an important support area.
- If the 37k support fails, you can expect support in the 34.2k-34.6k area, which is the lower part of the very large blue bullish trend.
- If you look at the orange bullish trend channel and the previous bearish trend, a bear flag pattern is being created. If a bearish breakout of the orange bullish trend channel appears and even the 34.2k support fails, a big bearish trend is highly likely.
- The basic pattern target price of the bear flag pattern is confirmed to be between 25.8k and 12.1k.
- It is not accurate, but it is known that the average Bitcoin price of major institutions’ position is between 28k and 32k. Therefore, the 34.2k-34.6k support area is expected to be solid, but if the 34k support fails, the possibility of a bearish trend towards the 25.8k-12.1k level should always be kept in mind.
- Even the 41.5k support failed and the green mid-trend line support also failed.
- Since the support area at 37k-37.7k overlaps with the lower end of the orange bullish channel, the area 37k-37.7k appears to be an important support area.
- If the 37k support fails, you can expect support in the 34.2k-34.6k area, which is the lower part of the very large blue bullish trend.
- If you look at the orange bullish trend channel and the previous bearish trend, a bear flag pattern is being created. If a bearish breakout of the orange bullish trend channel appears and even the 34.2k support fails, a big bearish trend is highly likely.
- The basic pattern target price of the bear flag pattern is confirmed to be between 25.8k and 12.1k.
- It is not accurate, but it is known that the average Bitcoin price of major institutions’ position is between 28k and 32k. Therefore, the 34.2k-34.6k support area is expected to be solid, but if the 34k support fails, the possibility of a bearish trend towards the 25.8k-12.1k level should always be kept in mind.
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