BTC has been unsuccessful in testing around 20,000 many times. One of them broke through, but soon fell back below 20,000 due to selling pressure. After a small recovery, a large candlestick appeared, which fell directly below the trendline support.
The current price is in the support range of 18870.65~18610.57.
If the price comes to the strong support range of 17149.43~17580.00, BTC has a chance to reverse the trend, because the weekly line (right picture) has a pin bar here, followed by a large increase. (This range is a strong support formed by strong buying pressure).
But, if the price falls below this support zone, this position becomes a strong resistance. The price of BTC will continue to decline.



bybit sign up:

zoomex sign up:

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.