What do we have in the daily chart?
1. The price sticked to the support area between $28 000 - 30 000. We can see the consolidation BEFORE a new movement.
2. RSI and MACD show us the market potential to move upward. And it makes sense as the previous dump should be corrected.
3. The price reversal from the support and a false breakout below will provide the bullish signal. We should be ready to see the upward movement toward MAs and the downtrend line.
4. A breakout below the support will give a strong bearish signal with the main target around $20 000. For this, we just need to see the bearish pressure in the Stock market or bearish news.
5. From my point, we don’t have bullish factors which would reverse the bearish trend. I think we have everything to continue the bearish trend in the borders of the descending price channel.
And what do you think about the crypto market?
1. The price sticked to the support area between $28 000 - 30 000. We can see the consolidation BEFORE a new movement.
2. RSI and MACD show us the market potential to move upward. And it makes sense as the previous dump should be corrected.
3. The price reversal from the support and a false breakout below will provide the bullish signal. We should be ready to see the upward movement toward MAs and the downtrend line.
4. A breakout below the support will give a strong bearish signal with the main target around $20 000. For this, we just need to see the bearish pressure in the Stock market or bearish news.
5. From my point, we don’t have bullish factors which would reverse the bearish trend. I think we have everything to continue the bearish trend in the borders of the descending price channel.
And what do you think about the crypto market?
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