Waiting for BTC and altcoins bounce

In these two days when the price of both BTC and almost all altcoins have been in free fall, it is when it is worth wondering if this will be the preamble to a rebound.

Numerous experts in cryptocurrencies who have channels on YouTube, assure that it is a very probable scenario; in fact, some almost take it for granted; which prompted me to do my own analysis today. Generally when I see that in Coin360 everything is in red, I do nothing, but today I wanted to make an exception.

I checked the BTC chart in time periods of 1 hour, 4 hours and diary, and in my view, we are still in an uptrend in a general plane, that is, based on the time periods of 4 hours and diary. But if we are going to the periods of 1 hour and 4 hours, for those specific periods the trend is downward.

What does it mean?

Well, it means that in a general scenario the trend of BTC continues to be bullish, because the diary chart supports it; in fact, the charts of temporalities higher than the diary also confirm it; however, in specific scenarios of less time than the diary, it is when we see the downward trend.

In Trading, the upper temporary ones define the lower ones, therefore, the logical conclusion to that is that in the next hours and days it is possible that the price will continue to fall; but it is not a question of being alarmed; it is a question of knowing how to see it intelligently. Be careful, this is just my way of seeing it; I can be wrong, so I recommend that you do your own analysis and confirm and deduce whether what I am telling you is true or not and act accordingly.

Are we on the rebound?

There are no confirmations of that as far as I could appreciate, but in case they do arise at some point, we must be vigilant. By the way, everyone knows that when the price of BTC falls, the price of almost all altcoins also falls; and that can be seen right now, when we view the Coin360 price screen almost entirely in red.

And that means if BTC hasn't received bounce confirmation yet, altcoins (almost all) haven't either; so be careful when acting.

An additional piece of information

According to my analysis, for us to be able to consider BTC in a downtrend on the one-hour chart, we should have reached the price of $ 29,000.00, a scenario that seems unlikely, being (as I write this post) at the level of $ 49362 approximately; But with BTC you never know, it could be that it turned there or not.

What do you think about it?

This is an opinion text and not investment advice. That should be clear.

I hope you found my opinion useful and my post entertaining. See you