TradingView
FirstNameHelen
May 25, 2023 9:01 AM

HelenP. I Bitcoin may leave channel and continue to fall Short

Bitcoin / TetherUSBinance

Description

Hi folks today I'm prepared for you BITCOIN analytics. In the middle of last month, the price broke through the level of 25200, rose to the mark of 28900 and for a long time traded in the range. Over time, Bitcoin exit of the range, continued to grow and tried to break through resistance at the level of 30800, but not managed to gain a foothold higher and the price began to decline. Over a long period, the price has created a downward channel and is still trading inside. After re-testing the resistance of the channel, Bitcoin continued its downward local trend. The price dropped to support of the channel and tried to break through it, but it was not possible to fix below, and it bounced and increased. Inside the channel, Bitcoin formed a resistance zone 27440-27665, which it recently re-tested and continued to decline. The price is currently trading close to support of the channel and could continue to fall and break through it. It seems to me that Bitcoin may continue the local downtrend and leave the channel. Therefore, goals will be set at levels 25765, which corresponds to support of channel, and 25200. If you like my analytics you may support me with your like/comment ❤️
Comments
StewySongs
Nice chart work.
VincePrince
This dynamic has huge potentials to unfold.
jpeacockfx
Good idea. Looks good to us. Thanks for sharing!
TradingShot
Great entry point, thanks for the suggestion, we will surely look more into it.
TradingBrokersView
Very interesting view on the current price action.
TheCryptagon
Very good, always like your analyses.
melikatrader94
Amazing TA, keep up the good job!
InvestingScope
Solid technical pattern, I've seen it work countless times on other assets as well.
KlejdiCuni
interesting perspective. Thank you
More