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THE DOCTOR CRYPTOHUB
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Bearish
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It looks like the market has broken down its daily trendline support..? Let's look at it from another point of view.
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THE DOCTOR CRYPTOHUB
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The market has broken the trend-changing zone and closed a daily candle above it. However, we still can't consider the market bullish or say that it has changed its trend, because it needs to close a couple more candles above the trend-changing zone. Until that happens, the market remains bearish, and the previous update remains valid.
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Importent market update🫡📊 The market retested 60% of the daily candle from the day before yesterday and kissed the box we mentioned, then pumped strongly from there. Currently, the market is trading below the trend changing zone, and we expect it to create a wick above this zone. If the market can close a couple of daily candles above this trend changing zone, which is around the 85k price range, then it will turn bullish and likely move towards the 90k level. So we have to observe this zone closely.
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The chart has been updated, Have a look 🫠
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The chart has been updated, Have a look.
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The market is barely recovering from our minor support range and is currently trading near an LQD zone, which is around the 91K price range. The market may create a wick above this range and take another correction from there. As I mentioned in the last market update, we might see a sideways movement in the market. If the market manages to close a couple of healthy 4 hour candles above this range, it could move towards 96K.
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