Hi Traders! This is my first analysis on my account and i am really exited to bring you this.
Today we are looking at BTCUSD developing a counter-trend on a daily chart.The price on lower timeframes have stopped trending down and it seems more timeframes are turning bullish. This means we have a chance for a counter trend movement.
As of right now bitcoin is struggling to keep prices above 30k and the price level marked as "BRAKING POINT" is the lowest we can go, before counter-trend turn into main trend movement. Alot of sideways movement between 32k and 28.8k until we have a consolidation brake out.
If prices stay above 28k, we are expected to hit our "MULTI TOUCH PRICE AREA" around 34k.
If you liked my publication, consider liking and commenting my analysis. I will gladly answer any question.
Today we are looking at BTCUSD developing a counter-trend on a daily chart.The price on lower timeframes have stopped trending down and it seems more timeframes are turning bullish. This means we have a chance for a counter trend movement.
As of right now bitcoin is struggling to keep prices above 30k and the price level marked as "BRAKING POINT" is the lowest we can go, before counter-trend turn into main trend movement. Alot of sideways movement between 32k and 28.8k until we have a consolidation brake out.
If prices stay above 28k, we are expected to hit our "MULTI TOUCH PRICE AREA" around 34k.
If you liked my publication, consider liking and commenting my analysis. I will gladly answer any question.
Trade active:
The price is at the best buying price this market structure provides, this is a critical level. The higher timeframe closings will be important - daily and weekly. Some belive we are crashing hard, but not as of right now.