BitCoin in the downward correction phase? We are waiting for the breakout of the support

BitCoin in the downward correction phase? We are waiting for the breakout of the support


BTC

On the Bitcoin chart, we can see that when the highest peak was broken, the volume increased, but not enough to speak of buying euphoria. On the other hand, the turnover during sales was comparable to that during the increases. The pictures show how I see it. Based on the fibo range, we can expect a correction to the place marked at 50 fibo, which is equal to the support level. However, note that this is a relatively low level that would have to be broken at even higher volumes than before, which would ultimately be concentrated by the other side of investors. The first signal is a higher volume of trading when the price drops, but we will only start selling when the last support breaks, and buy back at the level when the volume increases and the price stops deepening the low, because it will mean that someone buys everything as it goes.

BTC

btc

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Biznes-Broker
Biznes-Broker

Trader, cryptocurrency and forex market analyst. Editor of investor magazines: EN: http://biznes-broker.com/ PL: http://pvq.pl/ By giving me a tip you donate it to charity. All collected funds will help children and animals in need.


Cryptocurrency markets analysis
Cryptocurrency markets analysis

Subjective view of the cryptocurrency market. Analyzes made on the basis of technical analysis used in financial markets. All analyzes are my view of the market. It is not recommended to make commercial decisions based on the information provided. You can check all my work here: EN: http://biznes-broker.com/ PL: http://pvq.pl/

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