[09/20] Beast Trading _ Today's Bitcoin Analysis
Beast Trading _ Today's Bitcoin Analysis
Bitcoin broke its previous low of 18.5k yesterday, falling to 18.2k.
The next low was a dangerous situation with only 17.6k left, but it immediately recovered 18.5k, showing a sharp rise.
In this case, we have renewed the low point to form a new low, and now 18.2k will act as an important low point.
I will explain the lines that need to be checked today.
1. Red Trend Line
It acts as a support line, it's broken once, but it's recovered and supported, and it's still acting as a support line.
2. Black Trend Line
This originally acted as a short-term resistance line, but it changed to a support line as it broke through.
But rather than checking with the support line because the slope is too steep, the downward trend has calmed down a bit as a result of continued selling pressure as it breaks through this trend I think it's better to just look at it that way.
3. Green Mini Support/Resistance Line
Both are on the upward trend.
I think the upper line will act as a resistance, the lower line will act as a support line.
Since the slope is steep, if you leave the bottom line, the upward trend seems to have calmed down a little, and if you break through the top line, you will analyze that a very strong upward trend is working.
Bitcoin broke its previous low of 18.5k yesterday, falling to 18.2k.
The next low was a dangerous situation with only 17.6k left, but it immediately recovered 18.5k, showing a sharp rise.
In this case, we have renewed the low point to form a new low, and now 18.2k will act as an important low point.
I will explain the lines that need to be checked today.
1. Red Trend Line
It acts as a support line, it's broken once, but it's recovered and supported, and it's still acting as a support line.
2. Black Trend Line
This originally acted as a short-term resistance line, but it changed to a support line as it broke through.
But rather than checking with the support line because the slope is too steep, the downward trend has calmed down a bit as a result of continued selling pressure as it breaks through this trend I think it's better to just look at it that way.
3. Green Mini Support/Resistance Line
Both are on the upward trend.
I think the upper line will act as a resistance, the lower line will act as a support line.
Since the slope is steep, if you leave the bottom line, the upward trend seems to have calmed down a little, and if you break through the top line, you will analyze that a very strong upward trend is working.