For some time now I have been following btc/usd and it's quite interesting that it's back to a crucial point which seems to be very difficult to break.
Before we continue, do you know my Name is Defi Hiller and I talk about how to Defi and DYOR research follow me for more update
That been said, Bitcoin Has been maintaining high high and high low recently and technically it has formed a channel which you can see on the chart, but not ordinary channel it's an ascending channel which forms during a bearish correction, it always go up until the bulls loose buying power and the price fall below the trending.
In this case we can see Bitcoin is just seating on the trendline and it marks the 3rd Time the price is drived to that point.
The first point was at 16k region
The second point is at the 18k region
And now the 3rd point is at the 20k region
Is this a coincidence that it has a unique unique numbers or was it because it's the support area.?
Well!! let's assume it's the support area and buying now at 21k will technically put you on a good position as the next resistance is around 27k-30k and the last support area is 20k
🚀🚀🚀🚀
Bearish bias:
If you think Bitcoin would decline forther from the current point, I will suggest you wait for the trend line to break below 20k, then you can sell from the retest.
Always practice risk Management,
Thanks and stay safe.
What's your thought on the current price action. Let us know on the comment section.
Plz do like and share this post if you find this informative.
Before we continue, do you know my Name is Defi Hiller and I talk about how to Defi and DYOR research follow me for more update
That been said, Bitcoin Has been maintaining high high and high low recently and technically it has formed a channel which you can see on the chart, but not ordinary channel it's an ascending channel which forms during a bearish correction, it always go up until the bulls loose buying power and the price fall below the trending.
In this case we can see Bitcoin is just seating on the trendline and it marks the 3rd Time the price is drived to that point.
The first point was at 16k region
The second point is at the 18k region
And now the 3rd point is at the 20k region
Is this a coincidence that it has a unique unique numbers or was it because it's the support area.?
Well!! let's assume it's the support area and buying now at 21k will technically put you on a good position as the next resistance is around 27k-30k and the last support area is 20k
🚀🚀🚀🚀
Bearish bias:
If you think Bitcoin would decline forther from the current point, I will suggest you wait for the trend line to break below 20k, then you can sell from the retest.
Always practice risk Management,
Thanks and stay safe.
What's your thought on the current price action. Let us know on the comment section.
Plz do like and share this post if you find this informative.