Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD).
Bitcoin price is currently inside a rising channel and headed down. The chart shows a variety of signals with downward potential. The Ichimoku Cloud resistance is very strong as well as the recent bearish cross of the Stoch RSI. MACD is about to have a cross which will be worth checking out. RSI is also approaching a multi-month support line. Fibonacci retracement shows possible price coming down to 0.236 level which is also the channel bottom and where the Keltner Channel (KC) bottom is. A major concern is Volume dropping off. Lastly VPVR shows under $20K is much less trading activity so price could fall quickly to $17K-$18K if it goes below $20K.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Bitcoin price is currently inside a rising channel and headed down. The chart shows a variety of signals with downward potential. The Ichimoku Cloud resistance is very strong as well as the recent bearish cross of the Stoch RSI. MACD is about to have a cross which will be worth checking out. RSI is also approaching a multi-month support line. Fibonacci retracement shows possible price coming down to 0.236 level which is also the channel bottom and where the Keltner Channel (KC) bottom is. A major concern is Volume dropping off. Lastly VPVR shows under $20K is much less trading activity so price could fall quickly to $17K-$18K if it goes below $20K.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
I chart on Tradingview: www.tradingview.com/symbols/BTCUSD/?aff_id=25106
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd