BTC has had a correction occur with it breaking out the bottom of it's current price trend. However BTC has two levels of support with the first proving itself a worthy adversary to the current bearish movement.
BTC can go to as low as $53K before finding the first level and as low as $48K before finding the second (marked on the chart with yellow arrows).
BTC looks as though it has printed its bottom and is recovering nicely.
This ascending channel has held and continues to be the current trade channel. If this holds true this could be the bottom of a very bullish movement.
The charts seem to point to at least 80K and that's a minimum (circled in yellow on the chart). BTC can go as high as the top green trade...
Charts to Monitor the Rise of Polkadot and Kusama.
The ecosystem prepares to go live end of Q1-Q3 of 2021.
- First Chart = is Dot/Eth/BTC. For this chart to go up Dot has to outperform both ETH and BTC.
- Top Right = Kusama Vs Dot . . Kusama is overlooked and undervalued. The idea is that Dot will out perform Eth and Kusama will out perform Dot.
double of top in resistance line have divergence btc don't have potentially same as before reduce volume of trade if see rsi indicator in week and monthly time frame you can understand move at over buy and should reduce
In looking at Bitcoin you can see the red pennant pattern marked on the chart. This is the consolidation pattern BTC was initially in.
BTC had a small breakout of this pennant, but dropped back down into the same pennant.
In zooming out on the chart you can see the real pennant consolidation pattern BTC is currently in. A much larger pennant that has formed...
i told you in my pervious post please very careful to trade at the btc because its not move technically i hope no body got damage .now i see triangle if break black line can move up but its very strong and change acting and doing resistance line now .btc wants move for support line
It appears that the test of the lower support for the channel was broken and recently recovered. However, downward pressure on the price action appears imminent based on several indicators on the weekly TF.