Hey guys,
Based on the chart and whatever happened during the last week, there is a strong bearish possibility for BTCUSDT in the following days.
AS it specified on the chart, I have 4 reasons for have a bearish movement:
1. Strong daily bearish candle
2. Reaching to the top of a downward channel (It would be valid till the price remains in channel)
3. Price reached to 0.618 Fibonacci
4. Price couldn't stay above a strong support area and rejected
So based on these 3 reasons I have bearish bias about the market and I consider 30,000 and 20,000 for the next targets of this bearish movement.
Note: As always please take risk management rules into consideration before opening any position on the market.
I'm so excited to hear your idea about the price movement. please let me know, do you agree with me or not? and why?
Thanks in advance for sharing your idea.
Good Luck!
Based on the chart and whatever happened during the last week, there is a strong bearish possibility for BTCUSDT in the following days.
AS it specified on the chart, I have 4 reasons for have a bearish movement:
1. Strong daily bearish candle
2. Reaching to the top of a downward channel (It would be valid till the price remains in channel)
3. Price reached to 0.618 Fibonacci
4. Price couldn't stay above a strong support area and rejected
So based on these 3 reasons I have bearish bias about the market and I consider 30,000 and 20,000 for the next targets of this bearish movement.
Note: As always please take risk management rules into consideration before opening any position on the market.
I'm so excited to hear your idea about the price movement. please let me know, do you agree with me or not? and why?
Thanks in advance for sharing your idea.
Good Luck!