Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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It is on the sideway in the section of 8597 ~ 8838.5, the point of support and resistance created when the BTC rises.
Touch the long-term downtrend line (2) and again located near the section 8597 ~ 8838.5.
A new short-term downtrend line has been created and we need to make sure we can get support above the 8838.5 point after the time indicated on the chart.
If you don't get support above point 8838.5, you're likely to touch point 8597.
If it falls below the 8597 point, I think the 8597 ~ 8838.5 section is likely to be a new resistance section.
If supported above the 8838.5 point, it is expected to rise towards the long-term downtrend line (2) and the 9080 point.
At this time, it is necessary to check whether the downtrend line (1) can be touched.
It's a good thing to be sideways at your current position after falling below RSI 70. It can be said that it is forming a support zone with the expectation for further rise. I think you need careful trading on this.
It is expected to touch the 9617 or 9970 point near the downtrend line (1) and turn into a downtrend within a short time.
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Bitcoin Halving has about 12 days left.
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See support, resistance, and abbreviation points. Support or resistance is based on the closing price on the 1D chart.
Description of abbreviations shown in chart R: Resistance point or section, where a counter is needed to preserve revenue S-L: Stop-Loss point or section S: A point or section that can be purchased for profit generation as a support point or section
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I think we can predict the rise and fall of Alts to some extent.