Hello, welcome to this BTC /USDT 1DAY chart update by CRYPTOSANDERS.
I have tried my best to bring the best possible outcome to this chart.
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CHART ANALYSIS:-Looking at the daily timeframe, the last week’s rally has come to a halt, as the price is yet to break above the $21K mark. The 100-day moving average is currently acting as an obstacle, rejecting the price to the downside. Thus, a short-term correction has seemingly begun over the last couple of days, and the price may retest the 50-day moving average, located around the $19,500 level, which would be considered a significant dynamic support level.
In case of a pullback to the 50-day moving average and an eventual bullish breakout above the 100-day moving average, the significant $24K resistance level and the 200-day moving average, trending around the same area, would be the next likely targets for the rally.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
thank you.
I have tried my best to bring the best possible outcome to this chart.
Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis.
CHART ANALYSIS:-Looking at the daily timeframe, the last week’s rally has come to a halt, as the price is yet to break above the $21K mark. The 100-day moving average is currently acting as an obstacle, rejecting the price to the downside. Thus, a short-term correction has seemingly begun over the last couple of days, and the price may retest the 50-day moving average, located around the $19,500 level, which would be considered a significant dynamic support level.
In case of a pullback to the 50-day moving average and an eventual bullish breakout above the 100-day moving average, the significant $24K resistance level and the 200-day moving average, trending around the same area, would be the next likely targets for the rally.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
thank you.
