Bitcoin is Fighting the Dump -Bearish Within $18,000 to $20,600 Range

The Bounce is happening at time of writing this sunday . ( Now BTC from US$18k is reversing -moving up at $19,701,the lower high is near US21,000 , but as whales and institutional investors are all encouraging everybody to turn the tide, it might just push above and go higher becoming coming down for monday ,ready for another ride ..the charts is show bearish signal but recent production index is not the worst and market expect some good feedback for coming split stock exercise ,might just boost the nasdaq for some further upswing .

this bounce is good for small recovery ,so do not get into any bull trap ..the trending pattern is still bearish..always hope for more positive push

Yes ,many are worried the bearish trend will carry on through the weekend. The situation is severe for those who have leveraged themselves, and they might suffer margin calls as a result. We are in such a high moment of inflation, with rises in interest rates, very expensive oil prices, and this unstable geopolitical situation that can turn the market into a vicious circle if it has not already done so.

Despite this, a number of people have made comments on the likelihood of this bear market reaching its bottom going down to US$9,000–00 for BTC

In light of the fact that there is a great deal of unpredictability, it is best to maintain a high level of vigilance regarding all of the fundamentals, seeing as how any news that is pertinent might provide us with hints as to the path the market will follow.

With the meeting of the FOMC just over , BTC price attempted to show some relief bounce prior to the start of the new week as price moved to a region of $19,500; however, this bounce was cut short as the news of an increased rate hike hurt the price; consequently, the price of BTC dropped to its previous all-time high, which caused concern because this has been a strong support zone for the price of BTC.

I predict that the recovery of cryptocurrencies will be more gradual than anticipated since their image will be harmed by more incidents of projects that were unsuccessful. Despite the fact that there is still a lot to learn about cryptocurrencies, the volatile nature of the market means that anything might happen at any time.

In the event that bitcoin is unable to maintain its position above $17,500 and falls below this figure, the cryptocurrency will hit a low of $15,000 prior to the beginning of the bull market. 

However, signs imply that this position will lead to a bullish breakout if there is a notable rebound trend that lifts the price of the digital asset above $24,000.,and this can happen within the next 3 days , if all hell break loose concerning the War ,if $BTC breakdown from $17,000 to $15000 then $12000 might come into Play.

Therefore before the closing this week , $19,000 is most critical support before the weekend .BTC's price needs to break and hold above $24,000 in order to resume its bullish move. This is because the price has continued to respect the downtrend resistance on the weekly chart, which has prevented the price of BTC from trending higher ever since it fell from its all-time high. Breaking and holding above $24,000 is required for BTC's price to resume its bullish move.

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