Hello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some days ago entered to range, where it rebounded from the top part, which coincided with the 44400 resistance level and in a short time declined to the 40350 support level. Then BTC soon bounced from this level, which coincided with the buyer zone and rose back to the resistance level, but when it reached this level, the price turned around and little declined. After this, Bitcoin made an upward impulse higher than the resistance level with the seller zone, thereby exiting from the range too, but soon the price made a correction below the 44400 level. After correction, BTC repeated an upward impulse to 49000 points, and then it turned around and fell to the seller zone. Next, the price continued to decline in a downward channel, where BTC soon broke the 44400 level again and even later fell lower than the 40350 support level, reaching the support line of the channel. But recently, the price rebounded from this line and made impulse up, higher than this level and also the resistance line of the channel, thereby exiting from it. Now, the price trades near this line and I think that Bitcoin can back to the channel, making a fake breakout, and then fall to 38600, thereby breaking the support level one more time. Please share this idea with your friends and click Boost 🚀
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BTC rose to $42200 points and then started to decline, so possibly it can fall to the support level and try to break it, after which it will make retest and continue to fall
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So, Bitcoin didn't fall to support level, for this case, I think that it can rise to $43000 - $44000 and then start to decline
Don't give it, dear, you don't know, don't give it an idea
Real_CryptoRoy
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Very good analysis, I think it's very possible scenario
ahvankh
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@fastprofittrader, Yes, it would be very beautiful if it didn't give ideas
MyCryptoParadise_Nathan
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your prediction of a potential fake breakout followed by a move to the downside to break the support level is an interesting possibility.
HEAD-SHOT_PRO
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@MyCryptoParadise_Nathan, you supported long on BTC in another trade idea now supporting short, commenting on all ideas in trading view, and giving signals in the telegram. whats going on bro