RichM4NNN

BTC/USDT analysis. Is BTC bouncing back

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC and most of the crypto coins have suffered huge loss yesterday. Many major cryptos had been forming up bearish channels and now here is the result (BTC bearish channel shown with dotted lines). But BTC seems like it is bouncing on support level which is shown here. As I see it has potential to bounce back and form up massive bullish trend. If it does, this year might bring massive gains for crypto holders. But of course, breaking belove support level and continue to lose value is possible, due to DXY (Dollar currency Index) bullish patterns and S&P500's outcome. Hope you liked my idea and good luck!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.