BITCOIN → The fall will continue after a pullback

12 Eyl

BTCUSDT is strengthening after a false breakdown of the 54.5K - 55K support. Fundamentally and technically, there is no buyer motivation. Traders have moved into the waiting or selling phase...

Now BTC is accumulated mainly by wallets with balance < 1BTC... Larger wallets are not doing much. Also, judging by the statistics of various services it can be seen that the trading activity of large investors has decreased, and whales have stopped actively accumulating since August. Traders doubt the current rebound in BTC and continue to actively short it.
Technically, the coin shows negative, bearish dynamics, forming gradually declining highs without the possibility to approach the retest of local peaks.
For the last one and a half or two months a tight sideways range has been formed and MM continues to keep the price inside the flat, it is also worth paying attention to the descending resistance, which also prevents the market from going up, putting pressure together with SMA-200.

Resistance Levels: SMA200, 59600, Trend Line
Support levels: 57736, 56K, 54500

At the moment the price is consolidating in the bullish zone, which indicates a possible chance to rise to 59600. The situation may end with a short-squeeze and further decline after liquidity capture. The pressure from sellers continues and buyers are not ready yet

Rate, share your opinion and questions, let's discuss what's going on with ★ BTCUSD ;)

Regards R. Linda!

12 Eyl

İşlem aktif

12 Eyl

İşlem aktif

The price is bouncing off the strong local resistance 58400 and cannot pass through this barrier yet.
False breakout forms a bearish impulse

13 Eyl

İşlem aktif

An attempt to consolidate above 57750 is being formed.
In this case the price may head towards the resistance from which there is a high probability to catch a rebound downward

14 Eyl

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15 Eyl

İşlem aktif

A resistance retest is being formed. If the bears do not allow the price to pass this area, the scenario of the continuation of the fall will remain a priority.
BUT, the level of 60625 is a trigger, if it is broken, the price may head towards the resistance of the range

16 Eyl

İşlem aktif

60K is not giving in to the bulls yet.
Bears are holding the area.
A local bearish impulse is forming

16 Eyl

İşlem aktif

17 Eyl

İşlem aktif

A small rebound and consolidation is formed