Hello, welcome to this BTC /USDT chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- BTCThe current lack of activity and low volatility is more evident on the following 4-hour timeframe chart. After going through a long-lasting downtrend, the price has rebounded from the $16K mark and is consolidating below the $17K threshold. However, the main struggle for Bitcoin is now surpassing this confluence zone.
Suppose the price returns above the mentioned level, a retracement to the 0.618 Fib level and the broken trendline will be the main barriers toward the $18K range.
Bitcoin is taking support at the minor uptrend line. There is no movement in the market and BTC is trading at the resistance. Let’s see if BTC is able to break this resistance zone. We may see a big move on either side soon.
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 to bring the best possible outcome to this chart.
CHART ANALYSIS:- BTCThe current lack of activity and low volatility is more evident on the following 4-hour timeframe chart. After going through a long-lasting downtrend, the price has rebounded from the $16K mark and is consolidating below the $17K threshold. However, the main struggle for Bitcoin is now surpassing this confluence zone.
Suppose the price returns above the mentioned level, a retracement to the 0.618 Fib level and the broken trendline will be the main barriers toward the $18K range.
Bitcoin is taking support at the minor uptrend line. There is no movement in the market and BTC is trading at the resistance. Let’s see if BTC is able to break this resistance zone. We may see a big move on either side soon.
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
