BTC Analyze by soroushbozorgi cryptocurrency master analyzer
Today we saw a rare drop in bitcoin, which was about 18%, if you look closely at the picture, you can see that on February 20, the trend hit the ceiling of the bitcoin channel, and the next day we saw an approximate drop of 6% bitcoin, but Today, when the bitcoin trend hit the channel ceiling again, we saw an 18% drop, with which more than one billion dollars of bitcoin was liquidated (news source coin Face). There is now a double scenario for Bitcoin.
Scenario 1: The trend will continue to move in the channel and be able to break the important (psychological) resistance (63,400), which is the first target after the defeat (70,000).
Scenario 2: Bitcoin trend breaks the uptrend channel in the downtrend, which is the most important support (psychological) (41,000) after the failure of this channel, however, the second scenario is far from the shadow of this (large) candlestick. And the first scenario is more likely.
Scenario 1: The trend will continue to move in the channel and be able to break the important (psychological) resistance (63,400), which is the first target after the defeat (70,000).
Scenario 2: Bitcoin trend breaks the uptrend channel in the downtrend, which is the most important support (psychological) (41,000) after the failure of this channel, however, the second scenario is far from the shadow of this (large) candlestick. And the first scenario is more likely.