Hello, community members welcome to another BTC/USDT chart update.
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As we can see from the above-mentioned chat that BTC is currently trading inside a falling expanding channel and bounced right from the lower trend line support where BTC also had a support zone.
BTC bounced from the support zone after printing another low of 17.6k. Till now BTC pumped almost 19% from the new lowest level.
Now, in the current scenario BTC heading towards its resistance level which is 22k.
Let’s see how it performs near its resistance zone, a rejection will lead again to touch its new low, and a break above will lead towards the price level of 30k.
Here RSI follows the lower trend line well and is expected to continue till its 9% level.
MACD currently printing a bullish cross over but a bearish cross-over is likely in the upcoming days.
As we all know this time BTC printed a new scenario where BTC retested its previous low for the first time to date. This is also an example that anything can happen at any time so also be cautious.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.