DeejaiRiangkrul
Panjang

Bitcoin (BTC/USDT) Broke The Downtrend

BITTREX:BTCUSDT   Bitcoin / Tether
After an inevitable correction from the all time high in the area of 19800's (on Bittrex), Bitcoin             was able to break the down trend resistance line (signaled in red), right on the beginning of Christmas Day. A new trending support line from the 12000 has formed (blue line), which will allow us to re-test the all time high once again. If Bitcoin             is able to break the resistance line at the previous ATH             , next short term target is 22300.

First Target: Previous All-Time-High (19800-20000)
Second Target: 22300

Feel free to send me a message if you have any questions!
Happy holidays!
Don't you think its head and shoulder?
Balas
@im_sng, I agree that there is an apparent head & shoulders pattern forming; therefore, the resistance line at 17k is crucial. A break above resistance around 17k will further indicate to a bullish confirmation that the downtrend has indeed been broken, however, if Bitcoin fails to break this resistance area, it will see a correction downwards to previous support levels.
Balas
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