price is moving between 2 important trend line
Updated
Hi everyone
Bitcoin price is still trapped between two important trend line
blue trend line is long term since March 2020 and yellow trend line
is from ATH level until now. The WAR totally affects on all markets
so we can not expect very strong bull trend by now even if all
technical analysis being positive but fundamentally it can change fast.
right now I think price can keep moving downward after some consolidation
move and correction.
the scenario can be like H& S pattern if the price moves into the local channel
so our key resistant level would be around 41500$
if the pattern completes then we can expect drop to our blue area if the local
channel broke downward. so our important support level would be around 38K.
Enjoy the market
Bitcoin price is still trapped between two important trend line
blue trend line is long term since March 2020 and yellow trend line
is from ATH level until now. The WAR totally affects on all markets
so we can not expect very strong bull trend by now even if all
technical analysis being positive but fundamentally it can change fast.
right now I think price can keep moving downward after some consolidation
move and correction.
the scenario can be like H& S pattern if the price moves into the local channel
so our key resistant level would be around 41500$
if the pattern completes then we can expect drop to our blue area if the local
channel broke downward. so our important support level would be around 38K.
Enjoy the market
Trade active
the conditions of trading based on my chart is still onComment
above 42K bulls have more chance, below 39K bears can take control again. in days coming I think technically bulls must be more strong, lets seeTrade active
still moving between two important trend line on my main chart.Trade active
still moves exactly into the channel. above the channel bullish below it bearish
Related publications
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.