Bitcoin/TetherShort
Compromising Support Before A Major Crash | Bitcoin (57K)
Notice the action the last three days... This is a subtle but powerful signal.
➖ On the 27-August Bitcoin moved toward 57K.
➖ On the 28-August Bitcoin again, continues slowly to reach this level.
➖ On the 30-August Bitcoin keeps pushing lower, slowly, toward 57K...
What is happening here is that a strong support level is being tested, "testing the waters," this support level is being compromised.
On the first major drop since the all-time high, in May, Bitcoin bottomed around 56,000 and closed at 59,000, leaving in the middle 57K.
Then again in July this became a major and most relevant support level.
Then again in early August, both going down and back up, there is major force needed to move through 57K.
This level is being tested now. Not really tested, it is being compromised. Once you see 57,000 gone on the daily timeframe, prepare because the next low comes next. When Bitcoin loses 57K we will be looking at 43K. 43K will not be the bottom though... Notice that the last high didn't reach 62K, this is a sign of weakness...
It goes like this:
Highs: 74, 73, 72, 70, 65, 62...
Lows: 61, 57, 53, 49...
Get ready, this will be the most amazing ride of your life.
If we survive.
Namaste.
➖ On the 27-August Bitcoin moved toward 57K.
➖ On the 28-August Bitcoin again, continues slowly to reach this level.
➖ On the 30-August Bitcoin keeps pushing lower, slowly, toward 57K...
What is happening here is that a strong support level is being tested, "testing the waters," this support level is being compromised.
On the first major drop since the all-time high, in May, Bitcoin bottomed around 56,000 and closed at 59,000, leaving in the middle 57K.
Then again in July this became a major and most relevant support level.
Then again in early August, both going down and back up, there is major force needed to move through 57K.
This level is being tested now. Not really tested, it is being compromised. Once you see 57,000 gone on the daily timeframe, prepare because the next low comes next. When Bitcoin loses 57K we will be looking at 43K. 43K will not be the bottom though... Notice that the last high didn't reach 62K, this is a sign of weakness...
It goes like this:
Highs: 74, 73, 72, 70, 65, 62...
Lows: 61, 57, 53, 49...
Get ready, this will be the most amazing ride of your life.
If we survive.
Namaste.
🔥 PREMIUM Trade-Numbers
lamatrades.com (Since 2017)
🏆 Results: t.me/alansantana1111/5935
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
lamatrades.com (Since 2017)
🏆 Results: t.me/alansantana1111/5935
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
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.