PolarHusk

BTC/USDT (Last Bounce at Support?)

BINANCE:BTCUSDT   Bitcoin / TetherUS
💎Technical Analysis Summary💎



BINANCE: BTCUSDT

-Bitcoin is rejected at 38k dollars sending the price to its horizontal support area
-We can see the Bulls are defending the green support zone as the price is pushing up
-The Bulls are getting weaker due to a series of Lower Highs
-If the Bulls can't pass this trendline resistance
-And come back down to retest the support area for the 4th time
-Personally, I won't have the confidence to rebuy
-Because we know the area gets softer the more it is being tested
-The only good sign though is the Altcoins will have more time to recovery
-During Bitcoin's sideways market condition
-Please be careful because the bigger/longer the consolidation range is
-The stronger the breakout direction will be (up or down)





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Comments

Thanks for making things clear.
100 coins
+1 Reply
@Dinore, Thanks for the coins! 🐻❄️🙏😊😃
Reply
Nice idea
Look my view
+2 Reply
I appreciate the effort that you made!
+2 Reply
good analysis, Alts may have short term chance for one more rally before another BTC drop
+1 Reply
Good!
+1 Reply
epic fail
+1 Reply
Looks like '17
+1 Reply
great setup
+1 Reply
good analysis
+1 Reply
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