BTC weekly chart play: I see bearish scenario (temporary)
Hello everyone,
I have realised that BTC is best observed on a daily or weekly chart to get a bigger picture of the overall trend. I have opted to go with weekly chart this time.
I have marked some major support zones/areas where we can see some bounces that would be short-lived.
But by looking around, outside crypto and overall bearish sentiment overall in all market types, I see more of a bearish scenario than bullish. From stocks to trade to some business to some nations like Italy, things are taking a bit of a hit.
Who knows, people might find safer haven in BTC and invest big.... we don't know.
No matter how badly BTC drops, I don't see it dropping past 2400-2500 range which has a major support. Remember, the lower it drops, the higher it could rebound and reach new heights. All these drops should be just temporary...maybe a few weeks/months. Cryptos have big future in the long run.
Hope you like what I have shared. Take this as something that I see only and is not intended to be taken as a financial advice. I am not a financial adviser but just someone who is learning how to analyse the markets.
Best wishes and do share your thoughts.
I have realised that BTC is best observed on a daily or weekly chart to get a bigger picture of the overall trend. I have opted to go with weekly chart this time.
I have marked some major support zones/areas where we can see some bounces that would be short-lived.
But by looking around, outside crypto and overall bearish sentiment overall in all market types, I see more of a bearish scenario than bullish. From stocks to trade to some business to some nations like Italy, things are taking a bit of a hit.
Who knows, people might find safer haven in BTC and invest big.... we don't know.
No matter how badly BTC drops, I don't see it dropping past 2400-2500 range which has a major support. Remember, the lower it drops, the higher it could rebound and reach new heights. All these drops should be just temporary...maybe a few weeks/months. Cryptos have big future in the long run.
Hope you like what I have shared. Take this as something that I see only and is not intended to be taken as a financial advice. I am not a financial adviser but just someone who is learning how to analyse the markets.
Best wishes and do share your thoughts.