Bitcoin may not fall below $55000 and 58000

232 viewsTrading

Bitcoin may not fall below $55000 and 58000

You can go to any crypto exchange and see what that I am talking about if you use the 1 day chart. Do not let MACD and SAR deceive you. Go for BB and RSI for the analysis.

https://talkimg.com/images/2024/10/02/iT6oN.png

Do not listen to those that thought the bull run is over.

Danusushka de zoyza Answered question October 3, 2024
0

hopefully that’s the case, but even if it somehow go below $58k doesn’t mean bullrun is over, from recent wick, we could see that BTC recovers fast to $60k again and the sentiment become bullish again.

those bearish people are everywhere so their opinion is pretty much just noise, the fear also correlate with greed and index fear which currently is at low around 36, so no wonder some people are calling out that bullish is over even though really it isn’t.

if somehow BTC goes below $58k, we can just accumulate, we haven’t strayed away from the past data of bitcoin’s bullish chart routine. but certainly a bullrun above $76k gonna need massive accumulation before it happens.

but tbh, i also kinda concerned whether bitcoin could breakthrough current falling wedge, it was supposed to breakthrough yesterday then some news about war comes in.

Danusushka de zoyza Answered question October 3, 2024
0

You can lose your money in a bull run, and whether you get profit or loss, it depends on what you do like trading or investment and if trading, is it Spot, Margin or Futures.

With investment, is it an investment with your own money, not from a loan?

These things will decide that will your trading or investment get a margin call, loan expiration or position liquidation. If you use risky trading types like Margin or Futures, or if you invest with loaned money, you have high risk of losing money. No technical indicators can save you even the market is bullish.

adrian ondachchi Answered question October 3, 2024
0