Hello traders,
in the chart above i present to you the probability of a price move in the coming weeks.
As you can see, the price has slipped below the weak MA200 support in the weekly chart, indicating a strong bearish pressure. Additionally, the MA50 and MA100 lines may cross southwards, which will only confirm the bearish trend. In this situation, the price may count towards its annual LL in the coming weeks. Let's hope, however, that the price will not go below $ 20,700 and then $ 19,400. Recently, the economic growth of European countries has been announced, which are still optimistic, which may translate into drawing investors away from cryptocurrencies. The coming week will be of great importance in terms of the price direction. In my opinion, the price will drop to a maximum of $ 13k, which will be a healthy rebound after the last two years of increases.
Regards
in the chart above i present to you the probability of a price move in the coming weeks.
As you can see, the price has slipped below the weak MA200 support in the weekly chart, indicating a strong bearish pressure. Additionally, the MA50 and MA100 lines may cross southwards, which will only confirm the bearish trend. In this situation, the price may count towards its annual LL in the coming weeks. Let's hope, however, that the price will not go below $ 20,700 and then $ 19,400. Recently, the economic growth of European countries has been announced, which are still optimistic, which may translate into drawing investors away from cryptocurrencies. The coming week will be of great importance in terms of the price direction. In my opinion, the price will drop to a maximum of $ 13k, which will be a healthy rebound after the last two years of increases.
Regards
