Bitcoin still in downtrend. Where are the key levels?
Hello, dear TradingView members.
This idea is a Bitcoin analysis.
Bitcoin is still in its descending channel and is getting rejected by the middle band of that tunnel.
You can see that channel on my previous BTC idea:
This chart shows the price range we will consolidate for the next few weeks.
Levels 3 and 4 are our horizontal resistance levels.
These static levels have been pushing the price down for a while and have proven their strength.
Level 2 is our local support.
Level 1 is our solid support, which borders our current price range and the 17K area.
RSI is still in the middle, which is Neutral. Meaning there is room for going down or up based on the market volumes.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This idea is a Bitcoin analysis.
Bitcoin is still in its descending channel and is getting rejected by the middle band of that tunnel.
You can see that channel on my previous BTC idea:
This chart shows the price range we will consolidate for the next few weeks.
Levels 3 and 4 are our horizontal resistance levels.
These static levels have been pushing the price down for a while and have proven their strength.
Level 2 is our local support.
Level 1 is our solid support, which borders our current price range and the 17K area.
RSI is still in the middle, which is Neutral. Meaning there is room for going down or up based on the market volumes.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
Trade active:
Updated:
What will happen next? Up or Down? Read here:
What will happen next? Up or Down? Read here:
