BTC bull market back?
After BTC fell below the bear flag in August, it took nearly three months to consolidate before falling below the previous low of 17580.00.
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After falling below the low point, it did not immediately come to the support zone, but instead appeared a consolidation pattern.
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Recently, after BTC fell below the key price, it will consolidate for a period of time, and then the price will rise. The lightning in the figure shows three gradually decreasing highs:
25214.57
22293.37
21391.01
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BTC has signs of turning bull in the four-hour period. If the price can close above 17580.00, pay attention to the upper resistance:
18131.00
19200.00
20000.00~20500.00
BTC has the opportunity to continue to decline under selling pressure at these prices.
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In a bear market or a bull market, the price will not go down or up forever, and most of them will show a step-wise trend, so this price rebound will not change the overall downward trend. Especially under the bad environment of the overall economy and the impact of the FTX event, the possibility of BTC going up is relatively small.
-
-
After falling below the low point, it did not immediately come to the support zone, but instead appeared a consolidation pattern.
-
Recently, after BTC fell below the key price, it will consolidate for a period of time, and then the price will rise. The lightning in the figure shows three gradually decreasing highs:
25214.57
22293.37
21391.01
-
BTC has signs of turning bull in the four-hour period. If the price can close above 17580.00, pay attention to the upper resistance:
18131.00
19200.00
20000.00~20500.00
BTC has the opportunity to continue to decline under selling pressure at these prices.
-
In a bear market or a bull market, the price will not go down or up forever, and most of them will show a step-wise trend, so this price rebound will not change the overall downward trend. Especially under the bad environment of the overall economy and the impact of the FTX event, the possibility of BTC going up is relatively small.
-
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