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It remains to be seen if it can rise above the downtrend line (6) for support.
I think it's important to get support at the uptrend line (5).
This is because even if you touch the 10968.0 point or more, you must be supported at the uptrend line (5) and climb along the trend line in order to increase the possibility of further rise.
If you get support at the uptrend line (5), you have to see if you can break the uptrend line (4).
This is because the uptrend line (4) is passing above the 10968.0 point, which could act as a resistance.
If you are supported by the uptrend line (4) and show a flow that moves along the trend line, I think there is a high probability of further gains.
In conclusion, again,
1. You must deviate from the downtrend line (6).
2. A flow moving along the uptrend line (5) is required for further uptrend.
3. If you look at the USDT dominance chart, I think it is easier to interpret the movement of BTC.
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(USDT Dominance 1h Chart)
The last one of the formed trend lines is approaching.
We must see if we can get resistance at 4.601 and drop below the 4.468 point.
You'll also have to watch the rise above the 4.7 point.
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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for generating profit as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
It remains to be seen if it can rise above the downtrend line (6) for support.
I think it's important to get support at the uptrend line (5).
This is because even if you touch the 10968.0 point or more, you must be supported at the uptrend line (5) and climb along the trend line in order to increase the possibility of further rise.
If you get support at the uptrend line (5), you have to see if you can break the uptrend line (4).
This is because the uptrend line (4) is passing above the 10968.0 point, which could act as a resistance.
If you are supported by the uptrend line (4) and show a flow that moves along the trend line, I think there is a high probability of further gains.
In conclusion, again,
1. You must deviate from the downtrend line (6).
2. A flow moving along the uptrend line (5) is required for further uptrend.
3. If you look at the USDT dominance chart, I think it is easier to interpret the movement of BTC.
-------------------------------------------------- -----
(USDT Dominance 1h Chart)
We must see if we can get resistance at 4.601 and drop below the 4.468 point.
You'll also have to watch the rise above the 4.7 point.
-------------------------------------------------- -------------------------------------------
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for generating profit as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
If there is a decline at the newly created downtrend line, I think there is a high probability of falling below the 4.468 point.