Bitcoin: break or fall?
Hey guys.
After the blah-blah-blah of the last analysis, I'm back here to continue.
We have a bearish trend line drawn, and this line could be pain or pleasure for bitcoiners on duty. Haha
Pain: It will come if prices fail to break through and remain above this line. If this happens, we may see the formation of a downtrend. The first point of support will be in the 20.7K region.
Pleasure: if pleasure is at the forefront of the situation, we will see prices breaking this line to seek the 30K region. If this happens, the crypto could gain strength to test the 32K region.
I can tell you that the 32K region is a strong point of resistance, which I have mentioned several times.
On the daily chart, we even have prices forming an upward pivot, but I realize that we need strength.
The monthly chart still does not clearly show the real direction that prices want to follow. I further observe that we have an ABC pattern.
The weekly chart is trying to gain strength, however, just like the daily chart, it is in a downtrend. Resistance is observed in the 27.9K region on this “timeframe”.
-Do your analysis and good business.
-Be aware, If you buy, Use Stop Loss.
-See other graphic analyzes below.
After the blah-blah-blah of the last analysis, I'm back here to continue.
We have a bearish trend line drawn, and this line could be pain or pleasure for bitcoiners on duty. Haha
Pain: It will come if prices fail to break through and remain above this line. If this happens, we may see the formation of a downtrend. The first point of support will be in the 20.7K region.
Pleasure: if pleasure is at the forefront of the situation, we will see prices breaking this line to seek the 30K region. If this happens, the crypto could gain strength to test the 32K region.
I can tell you that the 32K region is a strong point of resistance, which I have mentioned several times.
On the daily chart, we even have prices forming an upward pivot, but I realize that we need strength.
The monthly chart still does not clearly show the real direction that prices want to follow. I further observe that we have an ABC pattern.
The weekly chart is trying to gain strength, however, just like the daily chart, it is in a downtrend. Resistance is observed in the 27.9K region on this “timeframe”.
-Do your analysis and good business.
-Be aware, If you buy, Use Stop Loss.
-See other graphic analyzes below.
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