Bitcoin fell 20%
We have a bearish signal starting in red.
We started the week with a bearish signal now.
Challenging the descending trendline and seeing a rejection is also a strong signal pointing to lower prices next. Every time this trendline has been challenged since March 2024, we have seen a significant decline. The actions we're seeing now and what we saw last week confirm that pattern.
We continue to see MA200 trading around $39,965. This level acts like a magnet, pulling bitcoin's price toward it. We are looking at a weekly schedule.
(1) Everything continues downward.
If there is any change, I will keep you informed.
While MA200 is major support, this is unlikely to be the last and final low.
The low point can take a few weeks, or more than a month.
The next dip could be the last of this major correction before we shift to bullish mode.
We started the week with a bearish signal now.
Challenging the descending trendline and seeing a rejection is also a strong signal pointing to lower prices next. Every time this trendline has been challenged since March 2024, we have seen a significant decline. The actions we're seeing now and what we saw last week confirm that pattern.
We continue to see MA200 trading around $39,965. This level acts like a magnet, pulling bitcoin's price toward it. We are looking at a weekly schedule.
(1) Everything continues downward.
If there is any change, I will keep you informed.
While MA200 is major support, this is unlikely to be the last and final low.
The low point can take a few weeks, or more than a month.
The next dip could be the last of this major correction before we shift to bullish mode.
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