Crypto Crash is it over??

Risk disclaimer: Not your financial advisor, trading involves risk, trade at your own risk, I am not responsible for the outcomes of your trades.

Been a tough few months for the crypto markets as were riding downwards and tested some of the extreme lows. Some coins even go from $80 to cents in these crash. While these big crashes is taking place the charts may show some willingness to rally in my point of view.

Here we have the daily chart of Bitcoin at the time of writing, not much to say in the daily chart alone. It fell from the support area and looks for that liquidity pool (more about this in my lessons). The bulls might have accumulated some long positions there and target the support line or just above that for short term trend and put a stop loss on the low of the accumulation phase. Again it is up to the trader trading it. As for me I would go long here depending on how the lower time frames are doing and sell at that level, and might as well look for another entry at a retest or something.

Here we have the 1 hour chart of Bitcoin. We are at a key resistance level, even if it attempts to break above the resistance I would wait for a retest(more on lessons) to occur to position myself for long. As it would make a great selling opportunity for people who have long positions in the support area. If it decides to go down from there I would be again interested in the purple box which is some sort of resistance turned support. Look for entries using some form of candlestick patterns or something. And finally if it decided to go back to the support area, it would be tested too many times and I wont be surprised if it continues to crash again.

That is my quick analysis of Bitcoin on 20th May 2022. If you enjoyed this analysis a tip of BTC is always appreciated here: 19qTMkmH53mJBB4rx7ZcKKz3yGuTM6AACz