2022-02-01 11:57:25
#BTCUSDT #BTC #bitcoin #cryptocurrency
https://www.tradingview.com/x/KKl53O4c/
An interesting situation in the
Bitcoin market. Since January 26, market participants are fighting for the range of
$37500 level. Yesterday the sellers had every chance to start a new wave of decline. But the rebound of BTC price after breaking through $37500 was very strong:
https://www.tradingview.com/x/CRbKXOoE/
The volumes of trades increased and the buyers showed the important thing - desire. On the one hand, the buyers are not actively trying to push the price up. But on the other hand all the local falls are repaid and the price continues its lazy growth. Such situation was in
March 2020.
As a result, Bitcoin has a triangle on its chart, which will turn into a momentum soon. Until the price is firmly below $37500, the short is off.
But if the sellers cannot break-through
$37300 or if we see a false-break-through on heavy volumes, it will be a good signal to enter long, aiming at
$41500.
https://www.tradingview.com/x/E9iNOr3D/
If you enter the trade with a limit order and do not wait for the buyers' reaction,
the stop-loss is quite big. Therefore, we are waiting for a test of 37300 to make a trading decision.
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