A reason for trust
A strict editorial policy that focuses on accuracy, meaning and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reports and publication
A strict editorial policy that focuses on accuracy, meaning and impartiality
The price of a lion football and players are pliable. Each arcu is to ultra -up all children or hatred for football Ullamcorper.
This article is also available in Spanish.
Bitcoin spent the last seven days, trying to accommodate nearly USD 85,000, in the commercial range from USD 83 200 to 86,000. Buying a momentum It has become positive in the last 24 hours, but an intriguing technical analysis of current price campaign indicates upcoming risk of decline.
The Cryptographic Analyst Xanrox presented bears for Bitcoin in the analysis of the trade platform, arguing that the ongoing valep pattern, often seen as a stubborn indicator, can actually be a calculated trap set by whales. According to his analysis, Bitcoin may fail up to $ 67,000 before another powerful move.
Falling Bitcoin’s Falling Wedge, which may not be stubborn at all
Xanrox’s Main Argument Centers About the widespread belief that falling wedges are stubborn designs of reversal. Although this is often true when the wedge forms at the beginning of the trend, the current wedge forms at the end of a wider trend, i.e. Another scenario in general.
Daily Candlestick Tame Meme shows the Bitcoin price moving in a pure structure of the wedge, while at the same time trades far below 20, 50, 100 and 200 daily average movable. This configuration, according to Xanrox, paints the image of a clear downward trend, not reversing configuration.
. The bears are not Almost chart patterns; It is also about market psychology and liquidity mechanics. This configuration is probably used by whales in institutions and banks with sufficient liquidity to affect the price.
These whales need retail buyers to create enough to unload or accumulate positions. By painting the illusion of a breakthrough, they can push the retail participants into a false sense of possibilities, only to reverse the market and cause loss losses around the world.
This perspective plays the growing belief that bitcoins are becoming more and more activated among institutions, mainly due to the escalate in ETF Bitcoin.
Chart Photo from TradingView: Xanrox
20% of the price of price for bitcoins this week
This week, Xanrox predicted the Bitcoin movement by 20%. 20% of moving to the current range of USD 85,000 would mean that Bitcoin would be rotated above 100,000 USD and around USD 102,000. However, this 20% traffic is not a movement But movement in the minus. In particular, the analyst identified USD 67,000, because the Bitcoin level will most likely test in the coming weeks.
The price level of USD 67,000 is the main purpose if the current wedge fails as expected, because it is the main support down if $ 75,000 is broken.
Even if the expected traffic on 20% does not materialize this modern week, it is still possible to move Takes place in the coming weeks. The analyst suggests that Bitcoin can try to test the upper zone again from 108,000 to 91,000 USD before he goes to below.
At the time of writing, Bitcoin traded USD 84,280.
A distinguished picture from Pexels, chart from TradingView
