1 min

Bitcoin – bulls are weak

It means that we are in the downward impulse, not correction. As a result I am not expect the prices above $48000 in next 2 months with almost 100% probability.

Hello, everyone!

I am waiting for retest of trendline 1 to go short, but bulls are so weak because we are not seeing the buying activity at $39-40k. It means that BTC will probably reach the trendline 2 before the significant bounce.

The Bitcoin price broke through the last point of support – 0.78 Fibonacci level. It means that we are in the downward impulse, not correction. As a result I am not expect the prices above $48000 in next 2 months with almost 100% probability.

What is next? I am going to try to open long position at the trendline 2 with the purpose to take the bounce to retest trendline 1 and short the BTC after that.

Good luck!

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Skyrexio is a leading non-custodial crypto trading platform and official broker for major exchanges announces the full integration with Crypto.com. With this partnership, Crypto.com users can now access all of

Skyrexio has integrated with Bybit to help users automate trading and simplify strategy execution across exchanges. Bybit users now have access to Alert Bots for automated TradingView alerts or custom

In this article you will learn how to combine Awesome Oscillator and Acceleration/Deceleration indicator in conjunction to have the trading zone for aggressive decisions.
Hello! Our COO Dmitry Efremov visited Token 2049 in Singapore! Here is the overview of key events there!
In this article you will learn how to use Acceleration / Deceleration indicator in your trading.
In this article you will learn how to use Awesome Oscillator in your trading routine.