Bitcoin & Crypto everyday market analysis.

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: GoodLuckHK on February 04, 2022, 11:23:59 PM

Bitcoin Sell Off Shatters Bulls Hope

Current Market Sentiment:

Resistance level to watch out: $45k
Support level to watch out: $41.5k

https://bit.ly/btcselloff

Interestingly, we have broken out of a big downward resistance trendline we were stuck in for past two months, now we will surely have a retest of around 40-40.5k level soon, and only if we are able sustain this retest we can then start to move north once again. I am not very sure about a new all-time high anytime soon but I know we are going to touch 50k atleast in this month or so, because even if BTC wants to go down further it needs a lot of buying positions in to liquidate all of them and go south and people will only believe the idea of another all time high once BTC breaks the 50k mark.

2girls

sr. member

Activity: 1002

Merit: 254

Tontogether | Save Smart & Win Big

I think for now the support level is 40.5K$, it must not break this support level. Weekly closing is near if BTC stays up till week candle closing we may see the bullish market from next week. Hope for the best.

Ararbermas

sr. member

Activity: 2016

Merit: 283

Provide some proofs or more data so that everyone will see how did you analyse the situation of the market and what is your prediction and opinion as well. It will be appreciated since most people nowadays are a little bit confused about the happenings wherein why market suddenly show progress especially bitcoin. Just be specific since you made this thread.. Wink

palle11

sr. member

Activity: 2366

Merit: 332

I think the resistance level is what should be looked at now as important to the price. Last week ending was on up side above $40k and approached $41k plus, meaning it has bounced off the support at $40k and the next hold should be around $45k before if a retest of support will happen or not.

rijaljun

sr. member

Activity: 1274

Merit: 267

Wouldn't hurt to add more insight about the market or your opinion about it rather than "Bitcoin Sell Off Shatters Bulls Hope" for what I see right now the market may experience a little dump because probably the bear might buy back the collateral they have borrowed. The support level is around that price but I'm not yet sure about the resistance level yet.

GoodLuckHK

jr. member

Activity: 40

Merit: 4

Bitcoin Sell Off Shatters Bulls Hope

Current Market Sentiment:

Resistance level to watch out: $45k
Support level to watch out: $41.5k

https://bit.ly/btcselloff

Topic: Bitcoin & Crypto everyday market analysis. (Read 69 times)