Bitcoin / TetherUSShort
Something changed, BTC may be eyeing the $40K price level.
Warning: our thoughts are ours; not financial advice.
The market is volatile and can flip in a moment. And it's our duties as traders to quickly identify this flips to hedge to save some profits or protect our investments from further loss.
The thoughts of bitcoin going to 62K in the immediate short term may not be possible and here's why.
Yesterday's close for BTC speaks a lot. If formed a seemingly railway track pattern with the previous candle. You can also argue this to be a bearish engulfment as it's slightly below the opening price of the previous candle.
Whatever you see this as, one thing is for sure, it's a bearish sign.
It also formed a lower low with BTC's previous high.
Why this is so bad is because, if BTC makes a breakout to the downside of the uptrend channel which started 26 January, the asset may further decline to the
41K or even 40K mark.
You might want to hedge against further loses if this happens to buy bitcoin at a cheaper price.
The market is volatile and can flip in a moment. And it's our duties as traders to quickly identify this flips to hedge to save some profits or protect our investments from further loss.
The thoughts of bitcoin going to 62K in the immediate short term may not be possible and here's why.
Yesterday's close for BTC speaks a lot. If formed a seemingly railway track pattern with the previous candle. You can also argue this to be a bearish engulfment as it's slightly below the opening price of the previous candle.
Whatever you see this as, one thing is for sure, it's a bearish sign.
It also formed a lower low with BTC's previous high.
Why this is so bad is because, if BTC makes a breakout to the downside of the uptrend channel which started 26 January, the asset may further decline to the
41K or even 40K mark.You might want to hedge against further loses if this happens to buy bitcoin at a cheaper price.
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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.
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.