[Bitcoin] Checking $44k support once again!! Converging here?
#Crack #Bitcoin #Binance #Daily
- Bitcoin continues to be in a convergence trend without finding a direction in a wide range.
- Once again, Bitcoin is confirming the support of the ‘44.2k-44.5k' section, and it is trying to rebound while raising the low. If Bitcoin keeps the low as it is, it should have the possibility of triangular convergence.
- If the ‘44.2k-44.5k' support is checked, a rebound can be expected to reach ‘48.8k-49.1k', where the inflection zone during the previous bearish trend and the upper part of the orange medium-term bullish trend channel overlap. Therefore, if it breaks out the resistance area, you can expect a rise to ‘51.5k-51.8k' or ‘53.3k'.
- If the ‘44.2k-44.5k' support fails, the bearish breakout of the sky blue highs trendline should be open for a deeper bearish trend.
- During the bearish trend, there is an inflection zone of ‘41.5k-41.9k', but in the case of a rebound, if the ‘44.2k-44.5k' resistance is fails to breakout, the possibility of a further bearish trend is higher.
- This should give the possibility of a bearish towards the lower end of the orange medium-term bullish channel and the ‘37k-37.7k', which provided strong support before the March rally.
- Bitcoin continues to be in a convergence trend without finding a direction in a wide range.
- Once again, Bitcoin is confirming the support of the ‘44.2k-44.5k' section, and it is trying to rebound while raising the low. If Bitcoin keeps the low as it is, it should have the possibility of triangular convergence.
- If the ‘44.2k-44.5k' support is checked, a rebound can be expected to reach ‘48.8k-49.1k', where the inflection zone during the previous bearish trend and the upper part of the orange medium-term bullish trend channel overlap. Therefore, if it breaks out the resistance area, you can expect a rise to ‘51.5k-51.8k' or ‘53.3k'.
- If the ‘44.2k-44.5k' support fails, the bearish breakout of the sky blue highs trendline should be open for a deeper bearish trend.
- During the bearish trend, there is an inflection zone of ‘41.5k-41.9k', but in the case of a rebound, if the ‘44.2k-44.5k' resistance is fails to breakout, the possibility of a further bearish trend is higher.
- This should give the possibility of a bearish towards the lower end of the orange medium-term bullish channel and the ‘37k-37.7k', which provided strong support before the March rally.
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