Bitcoin currently at 45800,
In our last analysis, we saw BTC at 44800, we saw 47 levels and we were bullish for a short time.
We were considering level 45200 for bullish price action (Reversal channel).
As I mentioned in our most recent analysis, "Structure intersect with the trendline" is the BEST PIVOT POINT for overturning
For reference to ascending and descending knowledge post, I made a true example for you on this BTC graph.
We can see both ascending and descending channel in this chart. Now that was just to give you an idea about the channels
TODAY'S CLOSING IMPORTANT:- WE NEED 46k PLUS UTC CLOSING!!
Moving on to the other image (Close LOOK), we can see that BTC is still testing its support nearly 45500 and had rebounded four times now. This indicates, 45500ish a STRONG SUPPORT and we might see 47k level soon, After that we'll see the same situation near 47k level for a few hours OR days, and then we can go up to 50k iA.
Recently Bitcoin has been really confusing and it has been difficult to understand whether prices will go up or down. In these cases, it is important to plan for both situations!!
Planning:
- The area to watch is 45k, Wait to see if we hold 45K.
- Watch for descending trendline break on a lower timeframe [45m} (Picture attached)
- BULLISH OVER 46500 (LONG)
- BEARISH UNDER 45200 (SHORT)
In our last analysis, we saw BTC at 44800, we saw 47 levels and we were bullish for a short time.
We were considering level 45200 for bullish price action (Reversal channel).
As I mentioned in our most recent analysis, "Structure intersect with the trendline" is the BEST PIVOT POINT for overturning
For reference to ascending and descending knowledge post, I made a true example for you on this BTC graph.
We can see both ascending and descending channel in this chart. Now that was just to give you an idea about the channels
TODAY'S CLOSING IMPORTANT:- WE NEED 46k PLUS UTC CLOSING!!
Moving on to the other image (Close LOOK), we can see that BTC is still testing its support nearly 45500 and had rebounded four times now. This indicates, 45500ish a STRONG SUPPORT and we might see 47k level soon, After that we'll see the same situation near 47k level for a few hours OR days, and then we can go up to 50k iA.
Recently Bitcoin has been really confusing and it has been difficult to understand whether prices will go up or down. In these cases, it is important to plan for both situations!!
Planning:
- The area to watch is 45k, Wait to see if we hold 45K.
- Watch for descending trendline break on a lower timeframe [45m} (Picture attached)
- BULLISH OVER 46500 (LONG)
- BEARISH UNDER 45200 (SHORT)
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.