LIVEBlacklight06
@Square-Creator-53e244490
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Based on BTC's movement. if it manages to hold this 59-60k support, we can expect a move up.
Do not short. look at the funding fee, a lot of people are taking short positions now. whales and institutions will push the price to liquidate those shorts before eventually initiating a correction.
Good day everyone !
I'm here to share my thoughts on BTC. I have uploaded two picture, 1 weekly and 1 daily.
1. We started the week bloody, as we can see in the weekly chart that is 1 big red candle however it showed some strength and created a wick. that is a long week for a weekly candle.
Next, let's look at the daily chart, we can see that it touched the 56k area 3 times and recovered from there. same with this sharp dump, despite dumping to 48k it quickly reclaimed the 56k area and is trying to hold it. I think it will retest this area several times before going up.
2. We all witnessed a sharp drop not just in the crypto market but in the world market especially US and Japan. This is due to fear of global recession and the turmoil in the middle east. Mt. gox repayments doesn't have much impact imo.
3. Based on my observation, this reclaiming of 56k area is a good move for btc since it add confidence to investors. it even recovered faster than the stock market. imo as long as btc holds this crucial support, a move up can be expected.
4. However, one should be cautious when trading in such environment. we cannot remove the possibility of another 50k or lower. always trade with sl. do not do impulsive trades. look for support areas and trade from there. if you are reluctant, stay away from the market and rethink.
that's all thank you !
I'm here to share my thoughts on BTC. I have uploaded two picture, 1 weekly and 1 daily.
1. We started the week bloody, as we can see in the weekly chart that is 1 big red candle however it showed some strength and created a wick. that is a long week for a weekly candle.
Next, let's look at the daily chart, we can see that it touched the 56k area 3 times and recovered from there. same with this sharp dump, despite dumping to 48k it quickly reclaimed the 56k area and is trying to hold it. I think it will retest this area several times before going up.
2. We all witnessed a sharp drop not just in the crypto market but in the world market especially US and Japan. This is due to fear of global recession and the turmoil in the middle east. Mt. gox repayments doesn't have much impact imo.
3. Based on my observation, this reclaiming of 56k area is a good move for btc since it add confidence to investors. it even recovered faster than the stock market. imo as long as btc holds this crucial support, a move up can be expected.
4. However, one should be cautious when trading in such environment. we cannot remove the possibility of another 50k or lower. always trade with sl. do not do impulsive trades. look for support areas and trade from there. if you are reluctant, stay away from the market and rethink.
that's all thank you !
LIVE
CRYPTO MECHANIC
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I will share $200 with my 10 followers đ€
Here is how you can win.
đ Repost / Quote with this post đ
Carefully read and discuss these topics to be eligible for $200đđ»
1. Explain The overall market trends
2. Why we witnessed a big drop in market
3. Add your prediction
4. what strategy someone can use to prevent from these market conditions.
Here is my take on market so you can get an idea what you have to post:
Picture 1: Bitcoin was clearly printing lower high on the daily and weekly chart which is technically is a sign of weakness.
Once price start breaking down we saw a sharp well off which was obviously caused by market weakness itself but also some macro fundamentals that iran is attacking israel , Global recession and Japanese market is crashing.
Market trends (Picture 2)
if you see the overall weekly trend i think nothing changed on the $BTC weekly scale price is still on an uptrend based on the weekly chart unless we see a weekly close below $50k level.
Predictions:
Like i said as long as the high timeframe chart is bullish it's fair to expect bitcoin continue to push up towards the new highs. The key level to hold is $50k
How you can prevent from these drops?
As this move down was fundamentally driven
When situations are this bad charts are least likely to work.
The least you can do is either wait for the situation to settle or buy when you see market capitulation. (A big move down)
you see how big that candle was and it dropped to key high timeframe level and provided a good move up.
Join the conversation now and share your insights for a chance to win!
đThis post is jointly sponsored by Binance Square.
Here is how you can win.
đ Repost / Quote with this post đ
Carefully read and discuss these topics to be eligible for $200đđ»
1. Explain The overall market trends
2. Why we witnessed a big drop in market
3. Add your prediction
4. what strategy someone can use to prevent from these market conditions.
Here is my take on market so you can get an idea what you have to post:
Picture 1: Bitcoin was clearly printing lower high on the daily and weekly chart which is technically is a sign of weakness.
Once price start breaking down we saw a sharp well off which was obviously caused by market weakness itself but also some macro fundamentals that iran is attacking israel , Global recession and Japanese market is crashing.
Market trends (Picture 2)
if you see the overall weekly trend i think nothing changed on the $BTC weekly scale price is still on an uptrend based on the weekly chart unless we see a weekly close below $50k level.
Predictions:
Like i said as long as the high timeframe chart is bullish it's fair to expect bitcoin continue to push up towards the new highs. The key level to hold is $50k
How you can prevent from these drops?
As this move down was fundamentally driven
When situations are this bad charts are least likely to work.
The least you can do is either wait for the situation to settle or buy when you see market capitulation. (A big move down)
you see how big that candle was and it dropped to key high timeframe level and provided a good move up.
Join the conversation now and share your insights for a chance to win!
đThis post is jointly sponsored by Binance Square.
đ„đ„đ„
LIVECRYPTO MECHANIC
--
I will share $200 with my 10 followers đ€
Here is how you can win.
đ Repost / Quote with this post đ
Carefully read and discuss these topics to be eligible for $200đđ»
1. Explain The overall market trends
2. Why we witnessed a big drop in market
3. Add your prediction
4. what strategy someone can use to prevent from these market conditions.
Here is my take on market so you can get an idea what you have to post:
Picture 1: Bitcoin was clearly printing lower high on the daily and weekly chart which is technically is a sign of weakness.
Once price start breaking down we saw a sharp well off which was obviously caused by market weakness itself but also some macro fundamentals that iran is attacking israel , Global recession and Japanese market is crashing.
Market trends (Picture 2)
if you see the overall weekly trend i think nothing changed on the $BTC weekly scale price is still on an uptrend based on the weekly chart unless we see a weekly close below $50k level.
Predictions:
Like i said as long as the high timeframe chart is bullish it's fair to expect bitcoin continue to push up towards the new highs. The key level to hold is $50k
How you can prevent from these drops?
As this move down was fundamentally driven
When situations are this bad charts are least likely to work.
The least you can do is either wait for the situation to settle or buy when you see market capitulation. (A big move down)
you see how big that candle was and it dropped to key high timeframe level and provided a good move up.
Join the conversation now and share your insights for a chance to win!
đThis post is jointly sponsored by Binance Square.
Here is how you can win.
đ Repost / Quote with this post đ
Carefully read and discuss these topics to be eligible for $200đđ»
1. Explain The overall market trends
2. Why we witnessed a big drop in market
3. Add your prediction
4. what strategy someone can use to prevent from these market conditions.
Here is my take on market so you can get an idea what you have to post:
Picture 1: Bitcoin was clearly printing lower high on the daily and weekly chart which is technically is a sign of weakness.
Once price start breaking down we saw a sharp well off which was obviously caused by market weakness itself but also some macro fundamentals that iran is attacking israel , Global recession and Japanese market is crashing.
Market trends (Picture 2)
if you see the overall weekly trend i think nothing changed on the $BTC weekly scale price is still on an uptrend based on the weekly chart unless we see a weekly close below $50k level.
Predictions:
Like i said as long as the high timeframe chart is bullish it's fair to expect bitcoin continue to push up towards the new highs. The key level to hold is $50k
How you can prevent from these drops?
As this move down was fundamentally driven
When situations are this bad charts are least likely to work.
The least you can do is either wait for the situation to settle or buy when you see market capitulation. (A big move down)
you see how big that candle was and it dropped to key high timeframe level and provided a good move up.
Join the conversation now and share your insights for a chance to win!
đThis post is jointly sponsored by Binance Square.
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