Bitcoin formed a squeezed Bollinger Band situation and pushed down on the lower band, which caused a sudden drop. We might see more corrections coming.
On the way down, we have two support areas. One is local support which isn't as strong as the solid support we can see. However, the solid support is strong enough to hold the price in case of more sudden crashes.
There are also two resistance areas on the way up, and both of them are strong and need a significant buy volume to be broken.
I see the Buy Volumes in the market for Bitcoin too, but they're not strong enough.
Use this chart as your trade setup for now; I'll keep it updated.
Current Market Price: $60547
Let me know your ideas.
Good luck.
On the way down, we have two support areas. One is local support which isn't as strong as the solid support we can see. However, the solid support is strong enough to hold the price in case of more sudden crashes.
There are also two resistance areas on the way up, and both of them are strong and need a significant buy volume to be broken.
I see the Buy Volumes in the market for Bitcoin too, but they're not strong enough.
Use this chart as your trade setup for now; I'll keep it updated.
Current Market Price: $60547
Let me know your ideas.
Good luck.
