Bitcoin Safely Buy Entry Setup As Technical Analysis

7/19/2021 01:01:00 PM
  1. Time Frame: Daily Chart
  2. Market Trend: Bearish
  3. Support levels: $22k-$24k
  4. Resistance levels: $37k, $42k, $60k
  5. Clear Pattern: Head & Shoulder
  6. Volume is currently decreasing
  7. Possibility of an instant touch of $24k
  8. Despite bullish news, bears are currently dominating the market
  9. It is recommended to trade carefully, and wait for a dip for a safe entry point.
It is important to be aware of the current market conditions and trends when making investment decisions. Based on the analysis of the daily chart, the overall trend is bearish, with support levels at $22k-$24k and resistance levels at $37k, $42k, and $60k. The clear pattern identified is a Head and Shoulder, which can indicate a bearish reversal. Additionally, the volume is currently decreasing and there is a possibility of an instant touch of $24k. While there may be bullish news, the bears currently dominate the market. It is crucial to be cautious and wait for a dip for a safer entry point.
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