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Bitcoin Short-Term Support & Resistance AnalysisPrices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the stop-loss area when trading on margin ⓡ Resistance Line 28567$ ⓢ Support Line 28319$ ⓢ Support Line 27561$ ⓢ Support Line 27229$ ⓢ Support Line 26894$ The above price level represents an important tipping point, not an absolute analysis for buying and selling. You must be careful about your investment decisions. Thank you for reading my poor analysi
by WhaleGO_BTC
BTC QUICK UPDATE! TIME TO BE CAUTIOUS!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. BTC gives a huge rally in Q1 of 2023. It pumps almost 100% from the bottom. In HTF we have a strong resistance at the $29k-$32k level. According to this chart, BTC formed a parallel channel in a 4hr time frame and currently trading at the upper boundary of the channel. Expecting a rejection from here. Invalidation:- If the 4hr candle closes above the channel then this bearish scenario will be invalidated. What do you think about this?| Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
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by CoreCrypto1
2
DOT/USDT 4HInterval Resistance and SupportHello everyone, I invite you to review the DOT chart in tandem with USDT on a four-hour interval. As we can see, the price has broken out of the local downtrend channel which we have marked with blue lines and is struggling to hold the price. Let's start by marking the support spots for the price and we see that we first have support at $6.06 just as we return to the descending channel, but if the price goes lower, we have another support at $5.92, then at $5.81. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has now bounced off a strong resistance at $6.27, then we have a resistance at $6.35, a third resistance at $6.42, and then a fourth resistance at $6.48. The CHOP index indicates that there is some energy left for the next move, the MACD confirms the ongoing local uptrend, while the RSI has reached the upper part of the range after a nice price increase and now we have a healthy correction.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, I invite you to every Wednesday cryptocurrency review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the four-hour interval. First, we will use blue lines to mark the local channel of the sideways trend, and using . Now we can move on to marking the places of support in the event of a correction. And here we see that we have the first support at the price of $28163, the second support at the level of $27853, the third support at the price of $27592, and then it is worth marking the support zone from $27347 to $26982. Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. First we have very strong resistance at $28,419, second resistance at $28,930 and third resistance at $30,427. Please pay attention to the CHOP index, which indicates that most of the energy has been used, but there is still some movement left, the MACD indicator indicates a local uptrend, while the RSI indicates entering the upper part of the range, which can give you a moment of breath or a slight rebound.
COINBASE:BTCUSD
by cryptodailyuk
1
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has broken above the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $28114, if the support is broken then the next support is $27771, $27499 and $27227. Now let's move on to the resistance line, as you can see the first resistance is $28745, if you manage to break it, the next resistance will be $29061, $29306 and $29551. Looking at the CHOP indicator, we see that there is some energy left for further movement, the MACD indicates a return to the local uptrend, while the RSI shows a strong increase, although there is some room, it is worth being careful.
COINBASE:BTCUSD
by cryptodailyuk
Bitcoin Short-Term Support & Resistance AnalysisPrices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the stop-loss area when trading on margin ⓡ Resistance Line 28605$ ⓡ Resistance Line 28237$ ⓡ Resistance Line 27561$ ⓡ Resistance Line 27229$ ⓢ Support Line 26777$ The above price level represents an important tipping point, not an absolute analysis for buying and selling. You must be careful about your investment decisions. Thank you for reading my poor analysis.
by WhaleGO_BTC
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $26819, if the support is broken then the next support is $26566, $26372 and $26164. Now let's move on to the resistance line, as you can see first we have a resistance zone from $27120 to $27256, if we manage to break it the next resistance will be $27467, then $27730 and we can see a quick return to $28462. Looking at the CHOP indicator, we see that the energy is slowly gathering strength, the MACD indicates a local downtrend, while the RSI after rebounding fell to the lower part, which creates room for future increases.
COINBASE:BTCUSD
by cryptodailyuk
BNB/USDT 4HInterval Resistance and SupportI invite you to review the BNB chart on a four-hour interval. First, we will use the blue lines to mark the downtrend channel in which the price is currently moving. Let's start by marking the support places for the price and we can see that the price is currently struggling to stay on the support at the so-called golden point of Fib 0.618, but if the price drops lower, we have the next support at $305.8, then at $301.8. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has to go through the strong resistance zone from $317 to $323 first. We continue to have strong resistance at $327.3, once the price breaks it it will move towards the resistance at $337.4. The CHOP index indicates that most of the energy has been used in the current correction, the MACD indicates the entry into a local downtrend, while the RSI has a large rebound and we can see that we are approaching the lower limit, which may slow down the price correction.
by cryptodailyuk
Daily ETH 1DChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair to USDT, also on a one-day interval. First, we will use the yellow line to mark the uptrend line that the price has left sideways, while currently we can see that we are moving in the downtrend triangle marked with blue lines. Now let's move on to marking the places of support. We will use the Trend Based Fib Extension tool to mark the supports, and as you can see, we have the first support zone from $ 1673 to $ 1629, the second support at the price of $ 1567, and the third significant support at the level of $ 1486. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we will also mark as the first resistance zone from $1803 to $1873, when we manage to break out of it up, the next resistance is at $1931, and then the third resistance at $1992. The CHOP index indicates that we have a lot of energy for the upcoming moves. The MACD indicator indicates a return to the downtrend. On the other hand, we see a rebound on the RSI, and we are staying below the downtrend line, which may indicate a deepening of the correction.
by cryptodailyuk
2
Daily BTC 1DChart - resistance and supportHello everyone, I invite you to every Monday's cryptocurrency review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the one-day interval. First, we will use the yellow line to mark the uptrend line, from which the price went down. However, locally, we can mark the triangle in which we are currently with the help of blue lines, and here we can see that we are on the border of the bottom exit. Now we can move on to marking the places of support in the event of a correction. And here we have the first support at the triangle exit at $26,592, then it is worth marking the support zone from $25,272 to $24,216, however, when we fall below this zone, we can see a drop to around $23,072. Looking the other way, this time using the trend based fib extension tool, we can determine the places of resistance. And here we see that the first resistance is at $28,880, the second resistance is at $30,253, and the third resistance is at $31,362. It is worth paying attention to the volume, which, despite the co-erect, we see that it is much smaller in recent days. Please pay attention to the CHOP index, which indicates that we have a lot of collected energy, the MACD indicator is on the verge of returning to a downward trend, while the RSI shows a rebound, but there is room for a deeper correction, so be careful.
by cryptodailyuk
1
MATIC/USDT 4HInterval Resistance and SupportHello everyone, let's look at the MATIC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $1.07, if the support is broken then the next support is $1.06 and $1.04. Now let's go to the resistance line, as you can see first we have a resistance zone from $1.08 to $1.10, if we manage to break it, the second zone is from $1.11 to $1.12 and then resistance at $1.13. Looking at the CHOP indicator, we see that there is a lot of energy for further movement, the MACD is on the verge of returning to a local downtrend, while the RSI is in the process of rebounding in a downtrend..
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by cryptodailyuk
Bitcoin Short-Term Support & Resistance AnalysisPrices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the stop-loss area when trading on margin ⓡ Resistance Line 28829$ ⓡ Resistance Line 28440$ ⓢ Support Line 27723$ ⓢ Support Line 27045$ ⓢ Support Line 26540$ The above price level represents an important tipping point, not an absolute analysis for buying and selling. You must be careful about your investment decisions. Thank you for reading my poor analysis.
by WhaleGO_BTC
Daily ETH 4HChart - resistance and supportHello everyone, let's look at the ETH to USDT chart on the 4-hour time frame. As you can see, the price is moving above the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $1768, if the support is broken then the next support is $1746, $1730 and $1713. Now let's move on to the resistance line, as you can see the first resistance is $1804, if you manage to break it, the next resistance will be $1829 and $1861. Looking at the CHOP indicator, we see that the energy is rising, the MACD indicates entering a local uptrend, while the RSI, despite the increase, we see that there is still room for continuation of the current move.
by cryptodailyuk
1
Bitcoin Short-Term Support & Resistance AnalysisPrices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the stop-loss area when trading on margin The above price level represents an important tipping point, not an absolute analysis for buying and selling. You must be careful about your investment decisions. Thank you for reading my poor analysis. ⓡ Resistance Line 28440$ ⓡ Resistance Line 27723$ ⓢ Support Line 27282$ ⓢ Support Line 26540$
by WhaleGO_BTC