Bitcoin technical analysis. (16.02-01.03)
If I'm right, the recent rise in the crypt currency was just a correction before falling further.
Or go to the stabilization phase. What will be the first signal for growth.
Why do I think so?
As you can see, the bears defeated the bulls last month. And they continue to dominate the market.
What could it be?
1 - Correction
2 - downtrend
3 - Search for a comfortable trading range.
If this:
Correction before continuing the downward trend.
The first goal of the reduction will be $ 6000 for 1 btcdownward trend. We will see a break in the trend level in the near future (not later than early March).
Search for a trading range. That we will observe the consolidation for a long time.
The range in which the price will move will be known only when there are the first prerequisites to consider that consolidation has begun.
I, now I see a wonderful entry point, in order to sell
and only after the collapse of the first level of resistance, I will closely monitor the graph, so as not to miss the best price for purchases.
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