Bitcoin / TetherUSКороткая
BTC: First close below the bull market support band this year!
Обновлено
In previous years, the bull market support band (b.m.s. band) has been an excellent indicator of a shift in the market.
When the price gets below the band, the price tends to get into a bear phase. And when the price breaks above and holds above the band, the price tends to start a new bullish trend.
As of now, the price has closed below the b.m.s. band for the first time this year. This potentially marks the start, or some would say continuation, of the downtrend that many people had been discussing.
In my humble opinion, this confirms a more significant downtrend. The market has shown a lot of weakness for the past many months.
I'm expecting 21k at first and 15k after that. For now, one should stay away from Altcoins as they can drop another 70-80% should BTC drop a lot further.
Stay safe!
When the price gets below the band, the price tends to get into a bear phase. And when the price breaks above and holds above the band, the price tends to start a new bullish trend.
As of now, the price has closed below the b.m.s. band for the first time this year. This potentially marks the start, or some would say continuation, of the downtrend that many people had been discussing.
In my humble opinion, this confirms a more significant downtrend. The market has shown a lot of weakness for the past many months.
I'm expecting 21k at first and 15k after that. For now, one should stay away from Altcoins as they can drop another 70-80% should BTC drop a lot further.
Stay safe!
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A retest of the BMS band has historically confirmed the bearish or bullish trend.Заметка
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