In a short term perspective: Bitcoin has had a bull squeeze and is slowly moving down. The volume indicates that the price wants to move lower by having higher volumes during downwards movement. Open interest is very low at the moment.
If price falls below $4420, it will probably trade lower, back in to $3K ranges. However, if the price falls, it will be respecting a descending parallel channel, which is a traditional bull flag.
Keep in mind, even a bull flag may not break out much in current market conditions.
Keep a eye on the traditional stock markets for any drastic moments, bitcoin is likely to follow based on recent trend patterns.
Stay safe and happy trading!
If price falls below $4420, it will probably trade lower, back in to $3K ranges. However, if the price falls, it will be respecting a descending parallel channel, which is a traditional bull flag.
Keep in mind, even a bull flag may not break out much in current market conditions.
Keep a eye on the traditional stock markets for any drastic moments, bitcoin is likely to follow based on recent trend patterns.
Stay safe and happy trading!
Smart Crypto Association [ SCA ]
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.
Smart Crypto Association [ SCA ]
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.