#BTC 1d
On a 1-day scale, still in the neutral zone to choose a further direction. After a strong fall, the chart shows a reversal candle, after which the market received an impulsive upward break. Now we have rolled back after him, which is quite natural and a similar scenario was considered in past posts. The upper tail of the reversal candle and the lower correctional one form an important level around 3940, which is a dense support and in case of a breakdown below we can get a more bearish market and a continuation of the downward trend. In general, Bitcoin continues to show bullish sentiment and tends to resistance higher, in the case of overcoming which, we will get a further wave of growth. To decide to open a long or short, you need to do after the price leaves the neutral range.
On a 1-day scale, still in the neutral zone to choose a further direction. After a strong fall, the chart shows a reversal candle, after which the market received an impulsive upward break. Now we have rolled back after him, which is quite natural and a similar scenario was considered in past posts. The upper tail of the reversal candle and the lower correctional one form an important level around 3940, which is a dense support and in case of a breakdown below we can get a more bearish market and a continuation of the downward trend. In general, Bitcoin continues to show bullish sentiment and tends to resistance higher, in the case of overcoming which, we will get a further wave of growth. To decide to open a long or short, you need to do after the price leaves the neutral range.
As we see, in recent days, the market has struggled to break through above the area of 4250, but it never succeeded. Formed daily red candle goes below the important support area, which is a bad signal. Now the market looks bearish and if in the near future it will not be possible to get closer to 4200 again, then most likely we are waiting for a hike down. Immediate support meets at 3600, but it is likely that the market will be able to break through and touch 3000.