We saw exactly what I wrote in the Bitcoin review yesterday. On the positive side, we could only reach $83,500, then a pullback occurred.
We have consolidated the price below the range of $79,600-$80,200, which is very good for short positions. We have already tested the level of $84,400, and I didn't see a decent reaction, so there are all the reasons to assume that we will reach the level and then go down.
We can work at the level up to 87,000, after which a correction to 65,000 is possible.
Option 2
We can also bounce locally, bargain, and then push towards the support at 73,000 and break it. In this case, the correction will continue to 65,000.
What do I think?
I lean more towards the second option, because ETH, for me, is an indicator of a rebound.
The dominance has peaked and is now gradually adjusting, indicating an influx of funds into altcoins.
I believe the second half of April and May will be positive, and many will be able to at least break even. I'm not even talking about profit, because many are in real trouble.
You can think endlessly about a correction, but even in a bear market, we don't fall with a single candle; in addition to long positions, we also need to exit short positions.
BTC Review - 4H🪙 Trump has frozen tariffs on everyone except China. He did this for obvious reasons; he realized he would have to fight China, but putting everyone against him at the same time means loss.
Today we are soaring upwards, yes, but in the following days the same negative news will come between the United States and China, so there is a chance to update the low level of Bitcoin to 72k.
Do we continue to cover the market? Write reviews on BTC?
The movement plan is indicated on the chart. There is a small upward bounce. I am considering opening a short position.
We feel like we will continue to move sideways, as I mentioned earlier. Then we will see in which direction the breakout will occur. This is what we will work on in the medium term.
Ideally, I would of course like to see a reversal in the end. But as long as the downward trend continues, I will work according to it))
I am still thinking about my first purchases of Bitcoin at a price of 73800-74000 dollars. The second purchase at a price of 65500 dollars now as you can see from the scary buying timeline is far from the rise.
ابو زهرة
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BTC Review - 4H🪙
We are getting closer to breaking the support at $81,200
Once the current local level is removed, we will immediately go to test $79,600-$80,200
It seems that BTC is about to experience a significant decline if you look at it from a global perspective. Before we see any attempts to return to $100,000, we need to reach $71,000.
Do we continue to cover the market? Write reviews on BTC.
We are getting closer to breaking the support at $81,200
Once the current local level is removed, we will immediately go to test $79,600-$80,200
It seems that BTC is about to experience a significant decline if you look at it from a global perspective. Before we see any attempts to return to $100,000, we need to reach $71,000.
Do we continue to cover the market? Write reviews on BTC.