BTC 1M Chart:
Why is Bitcoin suffering in this area?
We will understand more about what is happening here
1. The area where the middle of the green channel meets the bottom of the yellow channel and it is considered as a very strong resistance
2. We need high volume to penetrate this area
3. If it is penetrated, we expect a good rise in the market
4. Strong resistance in the white area, in the same area of the channel above
5. The target of the blue ABCD pattern is around $42980 since the price is above B. If it reaches $42980 then it will meet the important trend resistance.
If it fails to penetrate this area, then we expect to go lower to :
The yellow line and if it doesn't hold then we visit point B
Expected time intervals
Dec 2023 M ⏳
May 2024 M ⏳
Oct 2024 M ⏳
June 2025 M ⏳
Oct 2025 M ⏳
Why is Bitcoin suffering in this area?
We will understand more about what is happening here
1. The area where the middle of the green channel meets the bottom of the yellow channel and it is considered as a very strong resistance
2. We need high volume to penetrate this area
3. If it is penetrated, we expect a good rise in the market
4. Strong resistance in the white area, in the same area of the channel above
5. The target of the blue ABCD pattern is around $42980 since the price is above B. If it reaches $42980 then it will meet the important trend resistance.
If it fails to penetrate this area, then we expect to go lower to :
The yellow line and if it doesn't hold then we visit point B
Expected time intervals
Dec 2023 M ⏳
May 2024 M ⏳
Oct 2024 M ⏳
June 2025 M ⏳
Oct 2025 M ⏳
I draw charts according to Volume 🔰
📌 Disclaimer: I do my best, but the market's unpredictability is a constant reminder of its untamed nature. Trade wisely and manage your risk. 🛡️
📌 Disclaimer: I do my best, but the market's unpredictability is a constant reminder of its untamed nature. Trade wisely and manage your risk. 🛡️