Get started
PakRT

BTC nearly breakout monthly resistance

Long
Bitcoin (INDEX:BTCUSD)  
PakRT Updated   
INDEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators BTCUSDT bitcoinforecast bitcoinidea btcusdanalysis bitcoinanalysis Cryptocurrency btcusdtlong btcanalysis btcusdtanalysis
2
6
trendanalysis chartpattern indicator btcusdt bitcoinforecast bitcoinidea btcusdanalysis bitcoinanalysis cryptocurrency btcusdtlong btcanalysis btcusdtanalysis
  • In my opinion we are on accumulation zone of bitcoin, total amount of bitcoin inflow on exchanges is negative in the last 30 days.
  • BTC is trying to breakout and reclaim 20k.
  • The next resistance areas are on the chart above
  • But i think it's not a big move yet, could be a small bullish move only before correction on the next 25-28th Oct.
  • The invalidation for this minor structure is at below 18k
Comment:
BTC update (not financial advice) :
1. Is now at local resistance 20.3k and approaching the next resistance 20.8k.
2. This pump was because #dxy broke its diagonal support and is now staying above local support.
3. Small bounce upwards from here is possible for dxy, if so btc will go down again.
4. Will wait and see, taking partial profit and move stop at entry on btc.
5. 28th oct is coming, open new long position in the end of this month is not recommended.
Comment:
BTC
snapshot
DXY
snapshot
Disclaimer

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.