BitMidas

BitMidas

BTC still runs within the box and forms a consolidation triangle in the downward channel. It’s drawing close to the upper line of the box and trying to break up. The box: $22712.49~$18813.62; The key support of the month has moved up to $18403.16; The consolidation range has not been broken. Today it’s between $21986.05~$19069, centering $20397.21, which now...

BitMidas

BTC still runs within the box and forms a consolidation triangle in the downward channel. The box: $22658.64~$18686.84 $18267.50 is the key support of the month The consolidation range has narrowed down to $21699.20~$18686.84 ; centering $20300. If the price stays above the center, it’s turning upwards and vice versa. (Reference at 8:00 UTC+8) BTC flipped...

BitMidas

BTC still runs within the box and forms a consolidation triangle in the downward channel. The box: $22667.97~$18638.63 $18267.50 is the key support of the month The consolidation range has narrowed down to $21699.20-$18638.63 ; centering $20327.84 . If the price stays above the center, it’s turning upwards and vice versa. (Reference at 8:00 UTC+8)

BitMidas

BTC still runs within the box and forms a consolidation triangle in the downward channel. The box: $22671.28~$18636.63 $18267.50 is the key support of the month- keep monitoring. The consolidation range has narrowed down to $22112.96 - $18267.5; centering $20399.99. If the price stays above the center, it’s turning upwards and vice versa. (Reference at 8:00 UTC+8)

BitMidas

BTC still fluctuates within the box in the downward channel. It kept testing the lower edge of the box, weakening in strength. The box: $22599.73~$18625.55 $18267.50 is also the key support of the month. The consolidation range has narrowed down to $22112.96~$18267.50 ; centering $20455.18. If the price stays above the center, it’s turning upwards and vice...

BitMidas

BTC still fluctuates within the box in the downward channel. The box: $22633.33~$18655.29 $18267.5 is the key support of the month. The consolidation range is formed: $24206.44~$18032.06, centering $21229.45 The range will narrow down until a breakout. It’ll battle around the center in the initial stage. If the price stays above the center, it’s turning...

BitMidas Updated 

2022-04-28 2022-04-29 2022-05-01 2022-05-02 2022-05-03 2022-05-05 2022-05-06

BitMidas

1. BTC still fluctuates within the box in the downward channel. Breaking down below the lower edge of the small box will it possibly test that of the larger one. 2.Small box:$21556.78~$19569.47 Complete box:$20626.81~$18758.29 3. $18433.10 has turned into key support, breaking of which could introduce big slide. 4.BTC follows the movement of weak chops. Only...

BitMidas

BTC still fluctuates within the box in the downward channel. Monitor the support at $20010.91 and the lower edge of the small box. The complete box range: $22665.85~$18433.10; the small box: $19482.63~21991.92. BTC follows the movement of weak chops. Only by holding fast above $21080.81 could it go back into a neutral consolidation, which is judged on...

BitMidas

BTC fluctuates within the box in the downward channel and forms a triangle. The triangle, however, is not stable; keep monitoring key supports at $19482.63 and $18509.59. The complete box range: $22665.85~$18509.59; the small box: $19482.63~21969.29. BTC follows the movement of long-short flips but weakens in strength today. Only by holding fast above...

BitMidas

BTC fluctuates within the box in the downward channel. The overlapping area formed by the box and the channel will gradually cultivate a triangle before a breakout. The box: $19178.56~$22883.17 , where $21969.29 is the key resistance; $20463.69 is the key support. While forming a range before a breakout, long and short flip quite often.

BitMidas

BTC is still in the downward channel. It has entered a small congestion box. This movement could form a similar box around 3k last month. The congestion range is between $18999.63~$22700.44 Breaking up and holding $22700.44 for 3 days will enlarge the congestion range up higher. And consequently, it’ll be favorable to seek the bottom: rally; fall back;...

BitMidas

BTC is still in the downward channel, fluctuating under pressure. The congestion range is about to form initially between $18547.22 - $22670.03. Breaking up and holding $22670.03 for 3 days will enhance congestion and be favorable to consolidating the bottom.

BitMidas

BTC still runs in the downward channel, coming back and forth under downward pressure; - same as yesterday. We’re at a critical point of shifting toward consolidation from capitulation, however, if $19561.81 is broken, consolidation cannot be sustained and the bottom-seeking phase is easily compromised. Breaking up and holding $22696.03 for 3 days is favorable...

BitMidas

BTC still runs in the downward channel, coming back and forth under downward pressure. Shorts take control. The short-term key support is $19660.72 , breaking down of which will fail the bottom-seeking theory. Only by breaking up $22682.13 and holding it for 3 days could the market enhance the consolidation and favor the idea of seeking and then building...

BitMidas

BTC still runs in the downward channel, launching a bottom-seeking phase after it recovered 2 key supports. (The 2 key supports target points were given on the chart of last Friday. ) The downward testing begins to converge, resulting in the price fluctuating under downward pressure. Only by holding $22661.54 for 3 days could BTC valid the consolidation and...

BitMidas

BTC still runs in the downward channel, and $20222.47 is the key support. Breaking up $23371.67 is a turning point from short to consolidation. The market agrees on a support at $20222.47, while the next might come to $18053.68. Yesterday the market began to seek the bottom but was not very optimistic. Monitor if $20222.47 could stand the test and rise up to...

BitMidas

Yesterday remarks from Powell has boosted confidence of the market despite the 75bp increase of the interest rate, and saved the market from another massacre. BTC then left the most dangerous zone in the downward channel, holding the main support around $20222 and diverted upward, which forms a correction. The market will enter a correction between...