Hello,
Today, we want to provide you with an analysis of the current Bitcoin chart, highlighting the significant levels to watch and potential trading strategies.
Bitcoin is currently hovering around a historically crucial resistance level. While it may not be the ideal time to enter a long position, there could be opportunities to take short positions with manageable risks.
The region we are currently in started to be regarded as a resistance level after losing it on July 12, 2022. Bitcoin attempted to reclaim this level on April 10, 2023, but experienced a retracement within approximately one week, falling back to around $24,000.
Now, we find ourselves back in this level. Bitcoin, which has been accumulating for a prolonged period and facing negative news sentiment, seems poised to surpass this level.
If Bitcoin manages to break above the S/R Flip level and the levels we anticipate (as indicated by the red lines on the chart), it would signal a bullish momentum shift.
However, in case of a retracement, we will closely monitor the lower boundary of the ascending channel within which the price is currently moving.
As the price action unfolds, we will continue updating the chart accordingly.
Wishing you profitable trades!
Best regards,
CryptoSignalAPP
Today, we want to provide you with an analysis of the current Bitcoin chart, highlighting the significant levels to watch and potential trading strategies.
Bitcoin is currently hovering around a historically crucial resistance level. While it may not be the ideal time to enter a long position, there could be opportunities to take short positions with manageable risks.
The region we are currently in started to be regarded as a resistance level after losing it on July 12, 2022. Bitcoin attempted to reclaim this level on April 10, 2023, but experienced a retracement within approximately one week, falling back to around $24,000.
Now, we find ourselves back in this level. Bitcoin, which has been accumulating for a prolonged period and facing negative news sentiment, seems poised to surpass this level.
If Bitcoin manages to break above the S/R Flip level and the levels we anticipate (as indicated by the red lines on the chart), it would signal a bullish momentum shift.
However, in case of a retracement, we will closely monitor the lower boundary of the ascending channel within which the price is currently moving.
As the price action unfolds, we will continue updating the chart accordingly.
Wishing you profitable trades!
Best regards,
CryptoSignalAPP
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Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.app.link