Quote from: Woodie on December 05, 2021, 09:21:15 PM

Quote from: bots1 on December 04, 2021, 08:48:47 AM

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

Like the analysis, its spot on Cool

but then again this is based on a 4 hour chart which could mean this anticipated moved is for the short run.

Looking at the daily, weekly and monthly trying to get higher time frame bias in trying to get the charts to agree they are sending a different signal for the long term hence trade cautiously and going back to $40k again this will be depressing for many and personally I would not want price to come this low!!!

Of course we do not expect the price of bitcoin to return to its lowest price. However, it is possible that the price of Bitcoin will fall again from the current price and the possibility that the price of bitcoin will drop to the next level around $40,000, $39,000, and $38,000. However, the market may experience a lot of short-term based trading and a lot of volatility and the Relative Strength Index technical indicator is poised to cross into oversold territory.