Hello, Traders!
The global financial markets have been in correction since 21 February.
This is common in any market, including bull markets.
Buyers were able to stop the sell-off in the buying liquidity buffer between $44200 and $47200.
The initiative has gone back to the buyers.
The news environment is also heating up, with reports of large BTC withdrawals from cryptocurrency exchanges constantly being tossed around.
At the moment, the price is out of the local trading range of $47200 - $49700.
Downside correction targets on Fibonacci levels :
$52552
$55110.
In case the uptrend continues, we might see a retest of the ATH - $58354
A risk-free entry can be looked for on the upper boundary of the range $47200 - $49700 - the level of $49700
Stop Loss can be placed below the lower boundary of the range - level $47200
Good luck and watch out for the market.
This is not a piece of financial advice, but only an educational analysis. Measure your risks before entering any position
The global financial markets have been in correction since 21 February.
This is common in any market, including bull markets.
Buyers were able to stop the sell-off in the buying liquidity buffer between $44200 and $47200.
The initiative has gone back to the buyers.
The news environment is also heating up, with reports of large BTC withdrawals from cryptocurrency exchanges constantly being tossed around.
At the moment, the price is out of the local trading range of $47200 - $49700.
Downside correction targets on Fibonacci levels :
$52552
$55110.
In case the uptrend continues, we might see a retest of the ATH - $58354
A risk-free entry can be looked for on the upper boundary of the range $47200 - $49700 - the level of $49700
Stop Loss can be placed below the lower boundary of the range - level $47200
Good luck and watch out for the market.
This is not a piece of financial advice, but only an educational analysis. Measure your risks before entering any position