12/28/2022
🔥Daily review and thoughts about the market: December 28🔥
▫️ (twelve hour timeframe). Contrary to the idea under consideration with a short squeeze, buyers failed to keep the asset above the Monthly POC🫤
As a result, the daily candle closed below it✅
At the time of writing the review, the price of Bitcoin has fallen below the middle of the horizontal channel, which increases the likelihood of a test of its lower border in the near future😎
Nevertheless, the values of the RSI indicator are approaching the support line, so the BTC can first technically bounce to the exponential moving average EMA 21 12H to the area of $16,850📈
To strengthen the positions of the bulls, it is necessary to fix Bitcoin above the Monthly POC💪
However, at the moment, such a scenario seems less likely compared to the continued decline of the asset🤷♂️
When the daily candle closes at $16,400, Bitcoin will go to test the strength of the lower border of the trading channel in the $15,900 area📉
▫️ . Over the past 24 hours, the fall in the value of the asset against was 0.8%🧐
Ethereum lost the support level at $1,215, now it will act as an obstacle to the upward movement, the nearest significant support level is around $1,155📉
▫️The capitalization of the cryptocurrency market has decreased by 1.6% over the past 24 hours, the dominance of Bitcoin has grown by 0.2%🤑
The main cryptocurrency is in the "zone of uncertainty", and from the point of view of technical analysis, it makes sense to open long positions when the price fixes above $16,900, and go short when the price goes below $16,400💸
