BTC Outlook
It has not been an update on BTC for a long time, well this is my view of the movement of BTC , in the daily time frame we can see that BTC has been at the bottom of its uptrend channel , but is this our chance to buy on weakness and hope to sell BTC at its higher high?. For me it would be hard to see BTC experiencing a stir to create a new ath . The reason, if we zoom out to the weekly time frame there is bearish divergence on the MACD indicator. The purpose of BTC previous rise can be said to be just a MARKUP, an increase but not accompanied by strong demand. When viewed from the volume of sales volume lately is always the largest compared to the volume of buys afterwards. In conclusion, for me it is likely that BCT will experience quite a pullback again. Now I don't think it's the right time to buy back BTC , because the selling pressure is quite strong, we have to wait until the pressure from sales has subsided, and until BTC can create a base or consolidation first in one support area .
One of the support is at the level of 52.6k-50.8k(fibo level 0.618) should be considered because if the area is successful for breakdown there is likely to be a panic sell and also indicates that the uptrend of BTC has broken.
Maybe that's all I can share about my views on btc hopefully this insight can be useful.
Trend is your best friend, until that trend breaks.
One of the support is at the level of 52.6k-50.8k(fibo level 0.618) should be considered because if the area is successful for breakdown there is likely to be a panic sell and also indicates that the uptrend of BTC has broken.
Maybe that's all I can share about my views on btc hopefully this insight can be useful.
Trend is your best friend, until that trend breaks.
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