Hello TradingView members .
This is the inverted 3D chart of Bitcoin.
Price has been trading for one year inside a parallel channel with clear boundaries for resistance and support levels.
Right now the price is close once again to the support level (resistance in the chart) between 18-22k, which I think will act as a reversal point soon.
From there 36-40k will probably be next, creating lower high for Bitcoin.
The trend is bearish but reversals are normal and common in bear markets, so a strong upside move now will not be surprising.
Let me know if you guys have any questions.
Good luck and thank you.
This is the inverted 3D chart of Bitcoin.
Price has been trading for one year inside a parallel channel with clear boundaries for resistance and support levels.
Right now the price is close once again to the support level (resistance in the chart) between 18-22k, which I think will act as a reversal point soon.
From there 36-40k will probably be next, creating lower high for Bitcoin.
The trend is bearish but reversals are normal and common in bear markets, so a strong upside move now will not be surprising.
Let me know if you guys have any questions.
Good luck and thank you.
King