Greetings to all, colleagues!
I hope everyone is alive after the crypto market's overnight flood?)
Don't say it was unexpected. In the last few reviews I have repeatedly spoken about a global decline within the downward trend (the first high of which was formed in mid-March 2024), or rather about my expectations of such a decline.
Bitcoin practically didn't notice all the nearest supports tonight and is now trampling in an important range (at 6:00 February trading) $50,500-53,000.
The most key and strong support for 1 month TF in the range of $45K-48K, from which I expect to see a stronger reaction from buyers. If this support is weak, the Bitcoin drain will continue to at least $30K
This is if you look at it globally.
Locally, I'm waiting for today's daily close and will see where the price will fix. It is important for buyers to fix above the February trade and leave a deep spike in this zone to continue the rebound of bitcoin to $58K to test the slope and as a reaction to such a spike.
Otherwise, we will soon see a test of stronger support at $45K-48K, where the 200DMA 3D is also located, which has not been tested since October last year.
3D TF On the air literally last week I said in the review that we can test the $2800 level again (a good horizontal level + an upward slope), from where there will be a rebound.
As we can see, the asset flew past all these levels with a whistle against the background of the Bitcoin spill and is now actively trading in the two-month trading of last year ($2150-2400), where the volume ROS level is also now. If the Bitcoin falls below 45K-48K, we can see Ethereum at the level of $2000, from where active growth will begin, since there is a strong horizontal level + global ascending support. Again, this is global.
Locally, for a better rebound, at least to $2800, buyers need to consolidate above $2400, leaving a trace of the spike.
In any case, friends, any good asset drain is a great opportunity and discounts for purchases in your portfolio. And with the right TS, you can trade in both directions.
Trade wisely! Good luck and health to you and your loved ones!
