BTC’s recent rally stopped after the price reached the late December bearish order block at around $16920.
However, the Money Flow Index and the Chaikin Money Flow had downticks, with the CMF falling below the zero mark. This showed that a distribution had taken place, and sellers gained slightly. However, if selling pressure intensified and pushed BTC below $16836.09, the bullish bias, inclined towards a retest of the bearish order block of $16920.27, would be invalid.
BTC is hovering around $16.6k level with a possible bounce but I think another close is $21.7K will make things more likely to visit this levels which will be the big test ETH may bounce a bit then lower. I’ve been taking KeshGlover TA seriously & I’ve been doing superb
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MATIC traders can wait for a bounce to this area before entering short positionsDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The market structure on the daily timeframe was bearish The presence of the 78.6% retracement level added confluence to the resistance at $0.82 Bitcoin [BTC] has not initiated a large move in recent weeks. […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Ethereum climbs back above $1200, but watch out for this resistanceDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Ethereum approaches a bearish breaker on the 12-hour chart. Its move back above the mid-range mark offered bulls some hope that the range highs could be the next target. Much like Bitcoin, Ethereum also had […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Solana [SOL] retests former range lows: Are further gains unlikely?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Short-term market structure and momentum were strongly bullish at press time. The spot CVD has declined, which meant that sellers have the upper hand. Solana [SOL] sellers have been dominant since mid-December. They forced […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
XRP sees long positions hunted and a sharp reversal; here’s what can come nextDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The daily timeframe charts of XRP have been bearishly biased since late October The range formation in early November was respected, but another wave of selling is expected XRP traded within a range after […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Polkadot can push as high as $5, but is a bearish reversal imminent?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Polkadot has an inefficiency on the price charts that extended from $4.7-$5 Bulls are looking to push the prices past the $5 region, and a retest could be a buying opportunity Polkadot has soared past […]
Source: CryptoAmb - 🏆 22. / 68 Read more »