Bitcoin still bearish ?!?
💡 In the short-term analysis of #Bitcoin for the coming weeks
✍️It seems that after about 60 days and with a growth of 42% from its last major floor of $18,000 range, now gradually the buyers have lost their power and in the On Chain data there is also a sign of big purchases. The most likely scenario is a correction from the $25,000 range, and it should be seen whether another major floor will be recorded on the path of bitcoin's fall.
✍️ If there is a breakdown from the compression zone indicated in the chart with a strong downward momentum, with a very high probability this fall will continue up to the range of $19,000.
✍️Also, due to the high correlation of cryptocurrencies with the American stock market indices, if the Nasdaq and S&P indices continue their upward movement at the beginning of this week, it can be expected that Bitcoin will approach the important levels of 27 and 28 thousand dollars.
✍️ The more important point is that we are still in a bear market and we should be careful not to make new purchases at the end of such rallies.
Be profitable
#bitcoin
✍️It seems that after about 60 days and with a growth of 42% from its last major floor of $18,000 range, now gradually the buyers have lost their power and in the On Chain data there is also a sign of big purchases. The most likely scenario is a correction from the $25,000 range, and it should be seen whether another major floor will be recorded on the path of bitcoin's fall.
✍️ If there is a breakdown from the compression zone indicated in the chart with a strong downward momentum, with a very high probability this fall will continue up to the range of $19,000.
✍️Also, due to the high correlation of cryptocurrencies with the American stock market indices, if the Nasdaq and S&P indices continue their upward movement at the beginning of this week, it can be expected that Bitcoin will approach the important levels of 27 and 28 thousand dollars.
✍️ The more important point is that we are still in a bear market and we should be careful not to make new purchases at the end of such rallies.
Be profitable
#bitcoin
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