Bitcoin Update
Quick chart to show what is going on and where we may be heading. First off, let's get into the ascending channel, which BTC broke these last few days. This could be a correction following the recent 54% bull run of beginning of 2020.
Reasons for bearish sentiment:
Is this a correction? It very well could be. The sideways movement typically has always been followed by a steep selling.
Targets:
Check the MACD, average the histogram drops and we can see there is a little further selling coming.
Reasons for bearish sentiment:
- Double Top
- Cup and Handle (can be drawn from double-top)
- Broke Ascending Channel
Is this a correction? It very well could be. The sideways movement typically has always been followed by a steep selling.
Targets:
- $9,400 - Target 1
- $9,000 - Target 2
- $8,400 - Target 3
Check the MACD, average the histogram drops and we can see there is a little further selling coming.
Transaction en cours
Target 1 - Reached. Since it broke, we are looking for target 2.Transaction en cours
Target 2 Reached.Note
Bear market. Everything from stocks, bonds, to crypto has fallen. It seems like crypto is not a safe haven asset.
Publications connexes
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.