Hello, community members welcome to this BTC/USDT weekly chart update by Domino crypto.
Don’t forget to hit the like button if you find this update helpful because this motivates me to bring this kind of update regularly.
Now, Let's get to the chart,
As we can see the above-mentioned chart is evident that BTC closed above the lower trend line support at the price level of $31328 after printing the low of $26700 which is almost 16%.
currently BTC trading below the lower trend line on a blue MA which is 3% down from the closing price.
If we look into the lower time frame charts BTC is bullish.
Now, according to the current scenario BTC needs to hold this price level and move upward to show some green signal.
INVALIDATION: candle close below the lower blue MA support in the weekly time frame will be the invalidation point of this chart analysis.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.