Hello, community members welcome to another BTC/USDT chart update.
As we can see BTC broke below the lower trend line support and dropped down to the lower support zone.
Currently, BTC bounces and printed consecutive green candles, here bulls need to take charge to gain above to get back inside the channel pattern.
In the current scenario, BTC is trading in the support zone where it also getting a fib level of 0.618 which is the confirmation of strong support also.
Here MACD bands are also on the way for a bullish crossover with a slightly green bar.
Here BTC needs to get back inside the channel and re-gain % towards the price level of $20k.
If BTC is able to do so then it’s highly likely that we can see BTC again to its $22k price level.
Candle close below the lower green support zone will lead BTC towards its lower price levels.
NOTE: If you find this update helpful, hit the like button and follow for this kind of regular update.
If you have anything to ask relating to this analysis you can ask in the comment section.
This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
As we can see BTC broke below the lower trend line support and dropped down to the lower support zone.
Currently, BTC bounces and printed consecutive green candles, here bulls need to take charge to gain above to get back inside the channel pattern.
In the current scenario, BTC is trading in the support zone where it also getting a fib level of 0.618 which is the confirmation of strong support also.
Here MACD bands are also on the way for a bullish crossover with a slightly green bar.
Here BTC needs to get back inside the channel and re-gain % towards the price level of $20k.
If BTC is able to do so then it’s highly likely that we can see BTC again to its $22k price level.
Candle close below the lower green support zone will lead BTC towards its lower price levels.
NOTE: If you find this update helpful, hit the like button and follow for this kind of regular update.
If you have anything to ask relating to this analysis you can ask in the comment section.
This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
Trade active:
Till now BTC performed well but needs to close above the $20.8k resistance level to rally above.
Till now BTC performed well but needs to close above the $20.8k resistance level to rally above.
