hi guys!
so btc broke down after a heavy fall. i warned about altcoins. it is bad!
so now we found support at 9800, daily 50ma. now making somewhat bearish wedge, flag, it should come back to support again.
after that i believe it will test 11000/10900 zone in the coming days.
however, it can break down heavy too, to lower 9k zone. who knows.
but. if we see the 4hr macd, and how it broke rsi 30 resistance upwards, i think it will rebound.
weekly wise, honestly, this is getting tricky.
best supports are as below. big chance price could go to weekly 21ema which is 7700/8000. the green box.
this is how i see it. if we rebound from 21ema, make higher high then 14k, correction is over.
but if we hit blue box 6700, 50ema weekly, we could go to 5k.
that would take several more months.
the weekly close is bearish now. a little doji, hammer cannot diminish the bearishness.
so, it is simple. whales want to buy cheaper, and sell at high price.
we, regular investors just wait that, and meantime scalp at supports.
market is tricky now. check dominance.
btc dominance showing rising wedge, top is 70, i think correction could come.
alt cap, i think is bearish, but time to give some bounce. overall, it is correcting the uprise from feb.
so market is junky now. becareful trading.
best
so btc broke down after a heavy fall. i warned about altcoins. it is bad!
so now we found support at 9800, daily 50ma. now making somewhat bearish wedge, flag, it should come back to support again.
after that i believe it will test 11000/10900 zone in the coming days.
however, it can break down heavy too, to lower 9k zone. who knows.
but. if we see the 4hr macd, and how it broke rsi 30 resistance upwards, i think it will rebound.
weekly wise, honestly, this is getting tricky.
best supports are as below. big chance price could go to weekly 21ema which is 7700/8000. the green box.
this is how i see it. if we rebound from 21ema, make higher high then 14k, correction is over.
but if we hit blue box 6700, 50ema weekly, we could go to 5k.
that would take several more months.
the weekly close is bearish now. a little doji, hammer cannot diminish the bearishness.
so, it is simple. whales want to buy cheaper, and sell at high price.
we, regular investors just wait that, and meantime scalp at supports.
market is tricky now. check dominance.
btc dominance showing rising wedge, top is 70, i think correction could come.
alt cap, i think is bearish, but time to give some bounce. overall, it is correcting the uprise from feb.
so market is junky now. becareful trading.
best
close:9800/9750 area
open long:9750/9680/or..9800 area
potential close:10900/11000