Bitcoin (BTC) is already approaching the levels where the rebound occurred in January, which got above the S / R level of 42,000 USD. In other words, there are no outright panicked sales yet, but I would venture to say that we are on the verge of panic. For obvious reasons, the Russian market is falling freely, and the US market is also accelerating its decline.
I certainly don’t want to scare me in any way, but I’m afraid there will be a situation similar to March 2020. If something like this happened again, it would mean a fall of up to $ 19,000 for bitcoin. Maybe lower, with one shot. Market psychology is very difficult to estimate.
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Current situation at 1D BTC / USD
So Bitcoin definitely broke S/R level $ 37,000. The course subsequently responded positively to point of control volume profile. Which is good news, of course, because we know there are still shoppers. Respectively, they are close to $ 30,000, and the lower the price goes, the more there should be.
So there’s still nothing to change, and we expect to test that $ 30,000. As I have pointed out many times, there is massive support confluence. Therefore, under “normal” circumstances, there should be a reflection. Respectively, shoppers should be able to keep the price here.
But we do not see anyone in the future. In particular, we do not know how the geopolitical situation may worsen. And most importantly, we have no idea what the psychological response will be. If there is a mad panic, as was the case in March 2020, even massive confluence can easily subside.
Russia’s Sberbank fell about 50% today (half of the slump was bought in half an hour), bringing the P / E below 1 point. A similar panic can occur in other markets.
In conclusion
Because it is today evening stream, we will leave more details except for that. After all, we have much more time during the stream. We’ll see how it turns out today. Maybe we’ll get to that $ 30,000 today because the US stock market pre-market doesn’t look very good.
ATTENTION: No data in the video is an investment board. The analysis does not try to predict future price developments. It serves exclusively as educational content on how to approach the market. Before you invest, do your own research and analysis, you always trade at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!
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