BTC Weekly Update, Possibility of falling prices up to $20,000
Investigate the possibility of falling prices up to $20,000
In the weekly timeframe, BTC is moving in an ascending channel after a strong rally which happened in 2020.
For now and as you can see, The BTC is moving in the lower boundary of this ascending channel.
As I mentioned on the chart, $33,500 is a critical support zone for me, Just 1 candle close below that level, Will cause more drops up to $28,000 as the first TP.
So I'm looking for 2 events, To be sure about that we are going to see a $20,000 area.
Event 1: A Weekly candle closes below $33,600.
Event 2: A Weekly candle closes below $28,900
Let's see what will happen in the future, Good luck.
In the weekly timeframe, BTC is moving in an ascending channel after a strong rally which happened in 2020.
For now and as you can see, The BTC is moving in the lower boundary of this ascending channel.
As I mentioned on the chart, $33,500 is a critical support zone for me, Just 1 candle close below that level, Will cause more drops up to $28,000 as the first TP.
So I'm looking for 2 events, To be sure about that we are going to see a $20,000 area.
Event 1: A Weekly candle closes below $33,600.
Event 2: A Weekly candle closes below $28,900
Let's see what will happen in the future, Good luck.