Bitcoin Chart Published By Philosof

https://www.tradingview.com/u/Philosof/

Bitcoin chart review

Big picture we were referring to for a long time As you see, CoVID-19 has broken the grand trendline.

My main concern here is what will happen after the halving, if price stay here. Miners won't mine in loss. Although it is a big industry now that ain't so easy to stop, global market situation does influence crypto prices and adds surprise element to the whole market.

Comment : BTC dumped by 53%,I didn't expect it in one day, Absolute insane record. Updated target 3750 - lowest dip was to 3730 Is the dump over? Depends on reasons - but if panic caused by COVID spread, I wouldn't be so sure about it. But what a hell, doubt anything can get worse than that.

Comment : Price bounced back and above ~5250 SR zone and now trying to hold for it without any volume. I see no reason why it can't drop again lower to 3k. Lets put it that way - in situation, when price lose 53% in one day, there is no support and resistance left. Its only emotions driven by panic and uncertainty. Amount of liquidations during last 2 days was record high. Lots of retail traders were eaten by whales and now they have no liquidity left. If you trade long term, you may take that risk and start accumulating coins. If you are short term trader, probably it is better to wait for market to calm down. Unless you want to gamble.

Resistance: 6450 - 7150 - 7550 - 8400
Support: 5250 - 4130 - 3750 ✅ - 3400

Fear & Greed index: 8 (<= 10 <= 14 <= 17 <= 16 <= 17)
BTC Dominance: 63.8% (<= 64.1 <= 65.6 <= 64.3 <= 64.1)
⚙️ 24h Volume: $178 billion (<= 264 <= 145 <= 135 <= 149)

#BTC #Bitcoin

When I was browsing, I found an interesting quote from quotescoverabout learning. She(unknown) said in Bahasa Indonesia, “Jangan pernah berhenti belajar karena hidup tidak pernah berhenti mengajar”. In English this is translated to “Never stop learning because life never stops teaching”.

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