Bitcoin Dropping to 53k

BITCOIN DROPPING TO 53K LIKELY, ETHEREUM ‘CUP AND HANDLE’ PATTERN COULD SEND PRICE TO 6.5K!

BTC TOP 3

IS 53K POSSIBLE?

BITCOIN had had a beautiful breakout last Saturday going 60k but went down swiftly back to the price range before the actual weekly close. But the good thing is that we do not have any CME gap left anymore, and we can continue moving with the markets.

Overall, BTC’s price action at the moment is still trending south as it was rejected at $60k. It does not seem unlikely that BTC retests lower levels before we can continue moving at all.

Crucial levels to hold: area bet. $53k-$55k. If this is lost, we are looking at $50k for a higher low.

Crucial levels to break through: $60k, $63k 

The Moon Carl also showed the bear flag formation of BTC targeting $54.8k.
But Carl said this is just a small correction here. bearish in lower time frames, zooming out, we are still in a bull cycle, that hasn’t changed.

We have to go down to go up, right?

‘CUP AND HANDLE’ PATTERN

ETHEREUM is showing a massive bullish pattern. And the target? A whopping $6.5k!

Ethereum's

ALTCOIN CORNER

Here are some updates on some coins:

ETH/USD – showing nothing, currently, to be excited about

BNB/USDT – anything above $518 is good but just consolidating at the moment

SOL/BTC – should be targeting 0.00467BTC
SOL/USDT – if $177 happens, it would be a very good buy

ADA/BTC – major bullish divergence, holding strongly against Bitcoin but if it loses support, could go down another 30-40%
ADA/USDT – right now, it looks like breaking down below support, prob going towards $1.49 ($1.7 also a good entry) 

AVAX/BTC – in price discovery, buy the dip
AVAX/USDT – buy the dips, too

LUNA/USDT – should still eventually reach $79 unless BTC destroys the party

UNI/BTC – potential bottom

LINK/BTC – chopping sideways

EGLD/USDT – buy the dips

ATOM/USD – trying to break out, wait for it to close above the descending trendline to confirm breakout

MANA/USD – anything above $2.44 is good.

DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH.


ABOUT THE AUTHOR

Elisa A.

Elisa is our Head of Market Analysis at Rocket Crypto X

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