MMBTtrader

BTCUSDT price is bounded with parallel channel wait for breakout

BINANCE:BTCUSDT   Bitcoin / TetherUS
As we can see price after that deep fall is now in the range zone and gets boring now we have local support that is mentioned on the chart with the purple zone and the price was not successful to break this support and fall to 40K.

But after this local range over here, we can see that we have a new parallel channel that after breakout we may have local volatility market once again and sharp movement once again.

Notice: we are looking for the best possible long entries for buy positions now and two of them are mentioned on the chart.

DISCLAIMER: ((trade based on your own decision ))
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Comment: More correction to 40K support is also expected too:
Comment: Channell resistance touched and some correction
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Comments

now what to expect 40k or 47k
+3 Reply
MMBTtrader AaqibMubarik
@AaqibMubarik, 47 almost touched and it is our channel resistance too
+1 Reply
Posibility after a local pump towards 47-49 to see a downfall back to 44-43?
+2 Reply
I hope bitcoin has more correction and collects lower orders and attacks the ceiling with more force. All I know is that if it goes down, the altcoins will probably roll in their own blood as the dominance grows.
+2 Reply
amazing chart
+1 Reply
amazing chart breakdown, thanks a lot!
+1 Reply
Best
+1 Reply
Interesting view.
Reply
Looks like a bear flag or pennant to me. Nice chart
Reply
good
Reply