Bitcoin technical analysis in daily
The price has now reached its long-term downtrend line on the daily time frame and has broken this trend line with a candle with a decent body and is consolidating above this trend line. (To see the beginning and the end of the trend line, refer to the website of TradingView and currency today, which we will put the link at the end).
Currently, there are two scenarios with the highest probability, which we will examine further.
The first scenario for Bitcoin is that this failure of the Trend Line was a fake and the price will pull back to the resistance range of $21,500 to $20,500 (Bearish zone) and move upwards again; This move could lead to the red range of $24,300 to $25,000. Considering the liquidity that exists above the $25,000 range, we can expect a short-term reaction and suffering in this range.
The second scenario for Bitcoin is that the price stabilizes above its daily trend line and the price reacts to the resistance range of $24,300 to $25,000 (Bearish zone).
Arztoday Team ⚡
Analyzer ✍: AR.Rashidi
The price has now reached its long-term downtrend line on the daily time frame and has broken this trend line with a candle with a decent body and is consolidating above this trend line. (To see the beginning and the end of the trend line, refer to the website of TradingView and currency today, which we will put the link at the end).
Currently, there are two scenarios with the highest probability, which we will examine further.
The first scenario for Bitcoin is that this failure of the Trend Line was a fake and the price will pull back to the resistance range of $21,500 to $20,500 (Bearish zone) and move upwards again; This move could lead to the red range of $24,300 to $25,000. Considering the liquidity that exists above the $25,000 range, we can expect a short-term reaction and suffering in this range.
The second scenario for Bitcoin is that the price stabilizes above its daily trend line and the price reacts to the resistance range of $24,300 to $25,000 (Bearish zone).
Arztoday Team ⚡
Analyzer ✍: AR.Rashidi
Trade closed: target reached:
TP1 : 21500
Trade closed: target reached:
TP2 : 24900
