In this issue we are going to take a zoom out look at Bitcoin and all altcoins, highlighting important buy and sell levels and what to expect to consider a bullish reversal. I will try to make it as simple as possible, as it is very important that you clearly understand the key levels to avoid losing money on volatility. 1. BITCOIN
Bitcoin is in a bad place on the 1W timeframe, trading for several weeks below the last lower low after the FTX collapse and already being rejected 2 times from said resistance line.
In addition, the money flow is still clearly negative (red line in oscillator), so if you are a long-term trader, it is better to wait for one of our key areas to buy/sell. There is a possibility of entering a long if it closes above the previous lower low (17800) and take profits in the sell zone (20000)
Buy Zone 8900-10000
Sell Zone: 20000-21500
Trend Shift Buy: At least 2 candles above trend line.
Bitcoin 1W timeframe.
Altcoins are at their last line of support, so it is extremely critical that they hold up. If 2 weekly candles close below this line it would be extremely risky to hold any altcoin. On the other hand, the first sign of recovery we want to see is a close above the resistance line (480B). At this moment it is in the middle of both lines so it is better to wait and see how it unfolds.