Traders,
We are now testing my line in the sand once again, 25,200. Should we close below this level and confirm with at least one more candle, I smell 20k in the cards. If this support holds, then I believe we’ll continue the sideways action between 25.2k and 31.6k through November of this year, maybe longer.
A few bullish indicators are in our favor rn:
...
I believe if btc breaks out of this wedge to the upside it will land itself at the 21300 area and if it breaks to the downside I found the 20650 area to be the next support. I found 23000 ish to be the next big resistance and 19700 ish be the next big support.
*Feedback is appreciated
BYBIT:BTCUSD These are the most Current Daily, Weekly and Monthly Levels for Bitcoin .
**feel free to copy this chart for your own use**
Support and resistance Definition (quoted from Investopedia.com)
The concepts of trading level support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis . Part of analyzing chart...
On a hourly time frame, bicoin is showing a divergence in RSI.
The coin has been respecting a trend line and the RSI has been falling.
If there is a breakdown in a structure the coin can take support at 41980 and 37700.
The trade setup is good and targets are achievable.
Wait for the candlestick chart pattern to form near the trendline support.
