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TradingView analyst Alexander Klinkov predicted a decrease in the price of the first cryptocurrency and told when it can return to growth
The opinions of experts may not coincide with the position of the editorial board. “RBC-Crypto” does not give investment advice, the material is published solely for informational purposes. Cryptocurrency is a volatile asset that can lead to financial losses.
From April to May, the cryptocurrency market has been under strong seller pressure for nine consecutive weeks. Bitcoin collapsed from $ 48.2 thousand to $ 29.5 thousand and dragged all altcoins with it. Stablecoins were also affected.
Now many people are perplexed by what is happening. At what levels to buy bitcoin? Let’s try to answer this question.
The long sidewall exhausted many and the sellers seized power, with such pressure there are no buyers in the market. Therefore, we will highlight the liquidity zones in which it will be possible to see the reaction of the buyer before proceeding to decisive measures.
Key zones – $ 26 thousand and $ 23 thousand We have already tested the $ 26 thousand zone, but since we did not see strong buybacks, most likely, a second test will happen. If it fails, the market could go to $23,000.
With such a big drop, everyone is waiting for a rebound, but so far these are only hopes. It is necessary to act when showing interest on the part of buyers.
Let’s take a closer look at Bitcoin and try to model the local movement.
Now we are in a protracted flat, in which the feet of shortists and longists are carried out. Locally, the power of buyers is not visible – for any growth comes a quick response from sellers. Now it is preferable to trade from global signals after interest from buyers appears.
Plan to buy and sell:
- Purchase: in the zone of $ 26 thousand and $ 23 thousand;
- Target: $35,000 and above;
- Risk: 10% of the deposit.
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