Hello, community members welcome to this BTC/USDT daily chart update by Domino crypto.
Don’t forget to hit the like button if you find this update helpful because this motivates me to bring this kind of update on a regular basis.
Now, Let's get to the chart,
Nothing much has changed yet in this daily time frame.
As we can see ash the above-mentioned chart that BTC/USDT still trading still inside and at a lower trend line in support of descending channel pattern.
Here, we can see BTC was traded for almost 3 days and bounced right from the lower trend line support and FIB LEVEL of 0.616.
After touching the price level of $31460 BTC was again unable to hold that price level and lost 8% and moved back to the price level of $28700 were also getting the fib level of 0.618.
FIB LEVEL 0.618 level is also a good buying zone for bull traders in this daily time frame.
Still RSI also prints a bullish divergence pattern and bounces on a trend line support.
If the current daily candle closes above the price level of $30k then we will be able to see more green candles towards the $34k level in the upcoming days.
INVALIDATION: candle close below the lower trend line support in the daily time frame will be the invalidation point of this chart analysis.
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.
DO YOUR OWN RESEARCH BEFORE TAKING ANY TRADES.
Thank you.
Don’t forget to hit the like button if you find this update helpful because this motivates me to bring this kind of update on a regular basis.
Now, Let's get to the chart,
Nothing much has changed yet in this daily time frame.
As we can see ash the above-mentioned chart that BTC/USDT still trading still inside and at a lower trend line in support of descending channel pattern.
Here, we can see BTC was traded for almost 3 days and bounced right from the lower trend line support and FIB LEVEL of 0.616.
After touching the price level of $31460 BTC was again unable to hold that price level and lost 8% and moved back to the price level of $28700 were also getting the fib level of 0.618.
FIB LEVEL 0.618 level is also a good buying zone for bull traders in this daily time frame.
Still RSI also prints a bullish divergence pattern and bounces on a trend line support.
If the current daily candle closes above the price level of $30k then we will be able to see more green candles towards the $34k level in the upcoming days.
INVALIDATION: candle close below the lower trend line support in the daily time frame will be the invalidation point of this chart analysis.
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.
DO YOUR OWN RESEARCH BEFORE TAKING ANY TRADES.
Thank you.
