BTC is extraordinary in its desire to be expensive! However, at the moment, the situation is changing. We have bearish signals, such as strong overbought and bearish divergence on some timeframes. There was also support below us at the level of $11910 due to the price breaking through the support and fixing below it. I want to remind you that the weekly candle closed above $11650, which means that the purchasing ability has much more power than the selling ability.Of the highest priority in the medium term is to see the price in the region of $13000 after the correction.
Locally, in the short term: during the pump to $12300, there were much less volumes for purchase than volumes for sale during the current dump to $11600. Consequently, in the short term, when the price is fixed below 11600 for several hours, the price should go down to the supports for retest. Namely, in zones $11350 - $11035 - $10810 ($10810 - highly unlikely (too low)).
If the price fixes above the levels of $11910 and $12000, we will see continued growth to the levels of $13000+.
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Klondike Official Links:
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Website:
klondikepro.com/
Public Telegram Channel:
t.me/CryptoKlondike
Twitter:
twitter.com/Robert_Klondike
Trade on Bybit with us:
partner.bybit.com/b/6694
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.