UnknownUnicorn20454384
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Weakness in the bullrun, but how strong is this weakness ?!Is weakness strong enough to turn the trend around ?Bearish candles are stronger than bullish candles in a corrective trendBut in approaching the dynamic support, can we see candles as a sign of strength in the new bullrun or NOT ?
The closing price of this month's candle (which will be determined in the next 4 days) above the price of $28,700 and also the stabilization of the price above this price range in the weekly time frame can be promising for reaching a higher price range.Analyzing the blockchain data and the volume of transactions done in the specified areas can be very helpful.Note that the behavior of candles in lower timeframes relative to the ranges of supply and demand imbalance can be very important to the continuation of the trend in higher timeframes and how to react to them.Best Regards ❤️
All my focus is on the price range of 21900!Although this range fails, we can hope that a new amount of liquidity will enter the market to create an accelerated trend for the price of Bitcoin.Also, the range from $19000 to $17000 is a very strong range for the weekly time frame, if it is missed, I would expect the price to drop to $13000.Thanks for your attention ❤️
Bitcoin seems to have reacted well to its 200-week MA in the weekly timeframe.Is it possible that this scenario will be repeated?Yes! But if the weekly candle is not closed below the blue range.Otherwise the price fall will be much more severe.The momentum and intensity of the weekly candle are very important in these areas.
If a valid candle is perfomed above the range of $52,100 OR $52,200 We can expect growth up to the specified resistance area ($59,000 - $60,000)Else it's very likely that we will fall within the specified support range! (Anyway in my idea; Nothing is absolutely certain, even with a high probability of correctness)
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