Well, over the past couple of weeks, the cryptocurrency has fallen by $ 5,500. The cryptocurrency failed to overcome the Ichimoku cloud, failed to work out the descending trend line, and failed to show a tangible correction. At the moment, bitcoin remains near its annual lows and, given the complete reluctance of traders to buy it, we believe that a new fall will follow with almost a hundred percent probability. In principle, in recent months we have repeatedly said that we are waiting for a "bitcoin" in the range of $ 5-10 thousand per coin. From our point of view, the current trend is "bearish" and there is no reason to believe that it will end in the near future. All technical signals indicate a continuation of the fall. The "foundation" and geopolitics remain very difficult for risky assets. Accordingly, the fall can and should continue. Also note that the US stock market (which we are also reviewing) has also resumed falling because stocks are also considered risky assets.
We would like to draw attention to the fact that bitcoin has been trading very weakly in recent months. Look at what candles were six months or a year ago when bitcoin could travel a distance of 5-10 thousand dollars in a day, and at what distances it goes now. What's it? Is it just a lull before another serious collapse, or is bitcoin becoming a stable asset? From our point of view, the first option. Given that the "bearish" trend persists, and at the current "attractive price values," none of the investors are in a hurry to buy bitcoin, we can conclude that the sales will resume. Recall that one of the key disadvantages of bitcoin has always been its excessive volatility, which is the source of many risks. The higher the volatility, the greater the risks associated with trading or ownership. Thus, at this time, bitcoin is being traded just in such a way that it would be desirable to buy it, and invest in it. But all investors and traders are well aware that a few months of low volatility does not guarantee that the asset will continue to trade like this. The prospects for the next 5–10 years remain pretty good, but in the near future, the cryptocurrency market will continue to feel pressure on itself.
In the 24-hour timeframe, the quotes of the "bitcoin" could not overcome the level of $ 24,350 and fell below the Ichimoku cloud. Thus, the target for a new fall is now the level of $12,426. We believe that there are still no technical grounds for growth and that the rate of 5-10 thousand dollars per coin will become a reality in 2022. Moreover, there has not been a single attempt to gain a foothold above the trend line. A rebound from $24,350 is a new signal for sales, and consolidation below $18,500 will confirm this signal.
