Bitcoin | Key Points For This Week
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Hello, dear subscribers!
This week has started with the massive Bitcoin price drop. The uncertainty on the crypto markets scares a lot of traders. Let's try to examine the current market situation and spot the key levels and points for the different scenarios.
Scenario 1
The price now is in strong downtrend. The first point for this downtrend intrerruption is the breaking through the Resistance 2 line. The green scenario (1) reflects this possible situation. Now we can't build the analysis too much forward, but in case of this breakout the next resistance level is the Resistance 1 line. Also let's notice that in that case the price will bounce exactly from the
Weekly S1.
Scenario 2
In case of rejection from the Resistance 2 line price will probably breaks down the Weekly S1 and find the support at the intersection of the Weekly S2 line and Support. The condition for this strong downtrend interruption is the same: the breaking through the Resistance 2 line.
In case of major crash the price will probably bounce off the Weekly S3.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
This week has started with the massive Bitcoin price drop. The uncertainty on the crypto markets scares a lot of traders. Let's try to examine the current market situation and spot the key levels and points for the different scenarios.
Scenario 1
The price now is in strong downtrend. The first point for this downtrend intrerruption is the breaking through the Resistance 2 line. The green scenario (1) reflects this possible situation. Now we can't build the analysis too much forward, but in case of this breakout the next resistance level is the Resistance 1 line. Also let's notice that in that case the price will bounce exactly from the
Weekly S1.
Scenario 2
In case of rejection from the Resistance 2 line price will probably breaks down the Weekly S1 and find the support at the intersection of the Weekly S2 line and Support. The condition for this strong downtrend interruption is the same: the breaking through the Resistance 2 line.
In case of major crash the price will probably bounce off the Weekly S3.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Ghi chú
The price of Bitcoin is following the negative scenario 2. It have the porfect bounce off the weekly S2 line as we considered. The next key points are the same: for the reverse to the uptrend we should see the Resistance 2 and then Resistance 1 lines breakouts. The Resistance 1 line could be nice point for the short trade. The stop-loss is must!Ghi chú
The price hit the target of the scenario 2 and got a huge bounce off weekly S2. Now it looks like that the price follows the scenario 1. It has a perfect rejection from the Resistance 1 line. This line is still the key point for the uptrend continuation. The price can test this level again and we should be careful near it.
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