Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTC).
The chart is self-explanatory. The chart shows all the support and resistance lines and zones. Keep a close eye on the current support line as well as the possible re-test of the Descending Channel. RSI looks bullish.
Shown in the chart: Trend line, Support and Resistance Trend Line, Ichimoku Cloud, Descending Channel, Relative Strength Index, and Volume.
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
Reprieve bounce but far from a reversal. Great look as always CP.
MillionaireEconomics
⋅
@TheKitchenTrader, thank you buddy. It will be interesting how 40K-42K works out.
WeapoN1
⋅
Very nice idea, do you personally still see btc going to 28-32k zone?
MillionaireEconomics
⋅
@WeapoN1, I don't hold myself to a certain price since BTC trades 24x7, but I can say that if BTC price doesn't push through the 40K-42K resistance, then price will be going down. 28K-32K is definitely a first area of support, but price can definitely keep falling. Just my opinion.
WeapoN1
⋅
@CRYPTOPICKK, I agree 100%, I appreciate your time for the reply and trading ideas, I will be following you.
MillionaireEconomics
⋅
@WeapoN1, cheers buddy. I will be posting updates as market structure on BTC changes. Thanks for the follow!