empty
 
 

03.12.202121:57 Forex Analysis & Reviews: How large Bitcoin drop can be?

Bitcoin dropped after failing to make a new higher high. Actually, it has reached a strong supply zone, so the current drop is natural. I've told you in my previous analysis that, BTC/USD could come back down towards the previous former lows trying to accumulate more bullish energy before jumping higher.

BTC/USD dropped by 5.53% from 57,652 today's high to 54,462.45 today's low. Its current sell-off is far from being over, so a further drop is in cards. Technically, it's almost to reach a strong demand zone, a bullish pattern printed here could announce that the downside movement is over.

BTC/USD dropped as expected

Exchange Rates 03.12.2021 analysis

BTC/USD announced a potential downside movement after failing to stabilize above the weekly pivot point of 56,710.94. As I mentioned in my previous analysis, Bitcoin could come back down towards the 50% retracement level and down towards 53,524.03 static support if it closes below 55,918.80.

After registering only false breakouts above 58,933, a temporary downside movement was somehow expected. Also, its failure to approach and reach the Descending Pitchfork's upper median line (uml) signaled some pressure and a potential drop towards the median line (ml).

BTC/USD outlook

The level of 53,524.03 stands as static support. Ignoring this downside obstacle may signal a further drop to the Descending Pitchfork's median line (ml) at least. Staying above the static support zone may signal potential sideways movement between 53,524.03 and 58,933 levels.

Closing and stabilizing below 53,525.03 may announce a potential larger corrective phase. It could drop along the median line (ml). Only a strong bullish pattern in this support zone may announce a new upside movement.

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Ralph Shedler,
Pakar analisis InstaForex
© 2007-2022
Manfaat dari rekomendasi para analis saat ini
Akun trading teratas
Buka akun trading

Tinjauan analitis InstaForex akan membuat Anda menyadari sepenuhnya tren pasar! Sebagai klien InstaForex, Anda dilengkapi dengan sejumlah besar layanan gratis untuk trading yang efisien.

Dapatkan perubahan tingkat kriptokurensi dengan InstaForex
Download MetaTrader 4 dan buka trading pertama Anda



  • Trade Wise, Win Devise
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • Ferrari from InstaForex
    Top up akun anda dengan dana minimal $1.000
    gabung kontes dan menangkan Ferrari
    F8 Tributo
    GABUNG KONTES
  • Chancy Deposit
    Deposit akun anda dengan $3.000 dan menangkan $1.000
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS
Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.