In the last post, I highlighted price holding at support which is last year’s low at $28,540.
There is another support level just above that one from the January 2021 low at $28,989.
Price has hit this cluster of support multiple times since then. The first was a period
between May 2021 and July 2021. Price hit this level again a year later, in May 2022.
As this is historically a strong level of support, we eventually anticipate a bounce from
this zone towards the all-time high at $68.958 from the high of November 2021.
The cryptocurrency market, in general, has been in a long-term period of consolidation,
so we may have to wait for some time before any major moves occur. We must remain
vigilant because markets come alive at any time, but we must apply patience for now.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
There is another support level just above that one from the January 2021 low at $28,989.
Price has hit this cluster of support multiple times since then. The first was a period
between May 2021 and July 2021. Price hit this level again a year later, in May 2022.
As this is historically a strong level of support, we eventually anticipate a bounce from
this zone towards the all-time high at $68.958 from the high of November 2021.
The cryptocurrency market, in general, has been in a long-term period of consolidation,
so we may have to wait for some time before any major moves occur. We must remain
vigilant because markets come alive at any time, but we must apply patience for now.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
