BTCUSDT, WRXUSDT and CHRUSDT Technical Analysis
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BTCUSDT is in the Bearish channel it seems to be rejected from the Bearish trend line. So if it continues to go lower from the bearish trend line it is expected to go at least to the Support zone which is around 30032.0 however if it was able to break below the Support zone (30032.0) then we need to expect potential entry in the lower time frame like H1 to go short with the target of 24067.0 after the retest the Support zone.
On the other hand if the price succeeded to Break above the Bearish trend line the price may go to the first Resistance line which is around 35080 for a retest before it heads higher. At the retest at 35080.0 in the lower time frame (H1) we can look for potential entry to go long to the next Resistance zone which is around 43000.0
WRXUSDT has been rejected by several red Doji candles at the Bearish trend line and the last candle is forming as a strong Bearish. So with that being said I expect the price after formation of this red candle goes lower to the Support zone which is around 0.666 before it returns to the Bearish trend line again. However it is possible before it goes lower to the Support zone it breaks above the Bearish trend line and heads up to 1.44
We might have pullback at 1.44 before it goes higher. Above the bearish trend line in the lower time frame we can look for potential entry at lower time frame to go long with TP 2.10
CHRUSDT on the H1 has formed a Bullish Flag which is a sign of Bullish continuation if it breaks above the Bearish trend line of the Flag. If the breakout happens we would expect a potential entry at the Bearish trend line of the Flag in the lower time frame to go long with TP 0.145
We already have 2 rejections from the bearish trend line of the flag which can be more before the breakout happens.
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BTCUSDT is in the Bearish channel it seems to be rejected from the Bearish trend line. So if it continues to go lower from the bearish trend line it is expected to go at least to the Support zone which is around 30032.0 however if it was able to break below the Support zone (30032.0) then we need to expect potential entry in the lower time frame like H1 to go short with the target of 24067.0 after the retest the Support zone.
On the other hand if the price succeeded to Break above the Bearish trend line the price may go to the first Resistance line which is around 35080 for a retest before it heads higher. At the retest at 35080.0 in the lower time frame (H1) we can look for potential entry to go long to the next Resistance zone which is around 43000.0
WRXUSDT has been rejected by several red Doji candles at the Bearish trend line and the last candle is forming as a strong Bearish. So with that being said I expect the price after formation of this red candle goes lower to the Support zone which is around 0.666 before it returns to the Bearish trend line again. However it is possible before it goes lower to the Support zone it breaks above the Bearish trend line and heads up to 1.44
We might have pullback at 1.44 before it goes higher. Above the bearish trend line in the lower time frame we can look for potential entry at lower time frame to go long with TP 2.10
CHRUSDT on the H1 has formed a Bullish Flag which is a sign of Bullish continuation if it breaks above the Bearish trend line of the Flag. If the breakout happens we would expect a potential entry at the Bearish trend line of the Flag in the lower time frame to go long with TP 0.145
We already have 2 rejections from the bearish trend line of the flag which can be more before the breakout happens.
Traders, please hit the 👍 LIKE button if you like this idea and if you have your own opinion about this, please write it in the comment box. We will be glad for this.
We will have more FREE forecasts in TradingView soon
❤️ Your Support is really appreciated!❤️
Have a Profitable Day
BTCUSDT Technical Analysis Update H4