So, at the moment, bitcoin is trying to gain a foothold below the critical Kijun-sen line on the daily timeframe. We believe that this attempt will be successful since earlier the cryptocurrency failed to overcome the Ichimoku cloud. Therefore, we get a "bearish" signal. We have already talked about the geopolitical and fundamental background unfavorable for bitcoin many times. Simply put, bitcoin now has no reason to grow. Over the past few weeks, it has risen by $ 12,000, but at the expense of what to grow further? Thus, we continue to expect a fall to the level of $ 31,100, but what will happen after that is a big question. We believe that the "bullish" trend is over, so in the next couple of years bitcoin will fall one way or another. Therefore, it can go much lower than the level of $ 31,100. However, at the same time, powerful pending buy orders are located near this level. Previously, investors regarded the level of $ 30,000 as very attractive for purchases. It should also be noted that at the moment $ 30,000 is very close to the cost of one bitcoin coin. Thus, it will be difficult to overcome this level. However, if it is still overcome. Then bitcoin can almost go into free fall.

Geopolitical tension in Europe is growing.

Neither the cryptocurrency market nor politicians have a rest on the weekend. NATO Secretary-General Jens Stoltenberg said today that he "sees signs of plans for a full-scale Russian invasion of Ukraine." Recall that this is not the first statement by the West that "the invasion is about to take place." At the same time, markets clearly cannot feel easy and calm if Europe has the largest concentration of troops in a small area over the past 30-40 years. It is obvious to everyone that the exercises are not conducted near the borders of a country to which there are certain requirements. Accordingly, it can be not just exercises, but anything. Most Western countries think so. And since most investors are also Western, it is not surprising why they are experiencing bad times now in moral terms. At the same time, the press secretary of the President of the Russian Federation Dmitry Peskov said that "Russia has never attacked anyone and does not want war." At the same time, it became known that the Russian Federation and Belarus will continue joint exercises "due to the aggravated situation in the Donbas."

In the 24-hour timeframe, the quotes of the "bitcoin" failed to overcome the Ichimoku cloud and fell today to the critical line. Now there is only one obstacle on the way to the $ 31,100 level - Kijun-sen. If traders manage to overcome it, then the drop in quotes of the "bitcoin" will continue almost guaranteed. Geopolitics continues to deteriorate, so there are no reasons for bitcoin to grow.