Strong fall in Bitcoin causes general panic, but now what to expect? Check out the views of TradingView analysts.

Bitcoin / Tether Dollar

With this very high volatility, directional market down, I do not recommend doing trades! Take a stand follow the stripe! In this post I will help you plot your strategy!

The ideal now is to think about the medium term now, for the coming months. So one of the strategies would be to go shopping little by little and make an average price

This defines the next support around 3300, where it is feasible to increase our positions. But if you lose it, then the situation can get complicated.

After 3300 we have support at 2500, where despite a peak volume profile, we don't have very clear tops and bottoms as shown in the graph below. But it can be considered an intermediate support.

So if you lose the 3300 – 3200, we can even get the 1000 dollars for the top of 2013. I don't want to scare anyone, but there is this (low) probability.

Anyway, the loss of 3300 does not justify a sale, as we are likely to have high volatility and an irrational market.

Bitoin / US Dollar

After the strong triangle is formed and the strong drop of the last few days, bitcoin reaches a level of strong support and if it indicates any reversal pattern it may go up again!

60 minute bitcoin chart

Bitcoin 60 minutes

Bitcoin on the 1H Chart may have mounted an upside bottom after a sideways period. If Bitcoin manages to beat 5273, which has an important red line on the daily chart, we move on to the 2nd 6k test.

graphic bitcoin background?

After strong low momentum and great volatility it changed Bitcoin in the region from 10,000 to 5,000 USD in a few days. Crypto has tested the resistance of 6,000 USD twice without success in breaking. At the low, prices found key support at 4,000 and intermediate at 4,500 usd. Possible sales entry in the 6,000 resistance test with a target in the 4,500 support.

Supports: 4,500 / 4,000
Resistances: 6,000

Disclaimer: The analyzes presented here are only studies. They are not investment recommendations, neither buying nor selling, nor do they reflect the opinion of the media outlet in which they are being publicized. These are studies aimed at people with knowledge and experience in the financial market.

Our Authors:

Thales Inada – It's Bonsai Trades, an analyst focused on Cryptocurrencies. Follow your analysis on TradingView.

Gabriel Benedetti – He is an analyst of the national & cryptocurrency market. Follow your analysis on TradingView.

Caveira PhiCube – 100% analyst and cryptocurrencies and uses the PhiCube methodology for its operations. Follow your analysis on TradingView.

IFINOX – is the official Portuguese profile of the IFINOX trading platform. It brings ideas in crypto, commodities and forex. Check out his reviews on TradingView.


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