Btcusdttrading
BTCUSDT CONSOLIDATION PHASEBitcoin has successfully made a retest at the edge(bear flag's support area) but the major support area at $36.4k has been incredibly holding from seeing a crash in crypto. This major support area is registered as a checkpoint in the event of unexpected crisis, if btc can stay afloat the minor support at $39.3k this could be an ignition of a new bull season. Be patient enough to wait for confirmation of a daily close above or below the indicated trendlines before taking a position. Anticipate for new technical analysis on alt coins with huge potentials.
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BTCUSDT HARMONIC PATTERNS - RISE TO $53K OR BREAKDOWN TO &31KHiii Cohorts!! Trust y'all are doing great? It's been a long time i made TAs on cryptocurrency though it's bad meeting btc at the edge of a cliff. Well, this was very much expected because of the price action of btc completely corresponds with the technical analysis. At the moment, btc has formed a bullish inverse and head and shoulder pattern after an voluminous dip from $69k but now starting to get futile due to the triple rejections at the weekly resistance level ($45.7k). Now, bitcoin is probable to follow the harmonic pattern in the descending channel if it fails to close above the weekly resistance ($43.1k) which will ratify a possible era of a new bull season. The harmonic patterns have been playing out consistently since the second time bitcoin survived ($30k support level) in july 2021 which is now regarded to as a major support level for bitcoin. The current state of the crypto market is still bearish until we see a reverse above the weekly resistance ($43.1k). Sooner or later, we'll ascertain the next possible move with the help of the lower time frames but for now, bitcoin is absolutely bearish.
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