[09/20] Beast Trading _ Today's Bitcoin Analysis
Bitcoin broke its previous low of 18.5k yesterday, falling to 18.2k.
The next low was a dangerous situation with only 17.6k left, but it immediately recovered 18.5k, showing a sharp rise.
In this case, we have renewed the low point to form a new low, and now 18.2k will act as an important low point.
I will explain the lines that need to be checked today.
1. Red Trend Line
It acts as a support line, it's broken once, but it's recovered and supported, and it's still acting as a support line.
2. Black Trend Line
This originally acted as a short-term resistance line, but it changed to a support line as it broke through.
But rather than checking with the support line because the slope is too steep, the downward trend has calmed down a bit as a result of continued selling pressure as it breaks through this trend I think it's better to just look at it that way.
3. Green Mini Support/Resistance Line
Both are on the upward trend.
I think the upper line will act as a resistance, the lower line will act as a support line.
Since the slope is steep, if you leave the bottom line, the upward trend seems to have calmed down a little, and if you break through the top line, you will analyze that a very strong upward trend is working.
Bitcoin broke its previous low of 18.5k yesterday, falling to 18.2k.
The next low was a dangerous situation with only 17.6k left, but it immediately recovered 18.5k, showing a sharp rise.
In this case, we have renewed the low point to form a new low, and now 18.2k will act as an important low point.
I will explain the lines that need to be checked today.
1. Red Trend Line
It acts as a support line, it's broken once, but it's recovered and supported, and it's still acting as a support line.
2. Black Trend Line
This originally acted as a short-term resistance line, but it changed to a support line as it broke through.
But rather than checking with the support line because the slope is too steep, the downward trend has calmed down a bit as a result of continued selling pressure as it breaks through this trend I think it's better to just look at it that way.
3. Green Mini Support/Resistance Line
Both are on the upward trend.
I think the upper line will act as a resistance, the lower line will act as a support line.
Since the slope is steep, if you leave the bottom line, the upward trend seems to have calmed down a little, and if you break through the top line, you will analyze that a very strong upward trend is working.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.