Hello everyone!! Let's take a quick look at BTC/USDT. BTC changes its downtrend movement to uptrend from 1st October 2021. From then onwards, it's completely bullish and is following this channel. Currently, BTC is moving on 21D EMA but whenever it breaks that 21D EMA line, strong support is detected on 50D EMA.
If BTC breaks this channel, the local support would be 60266, 57762, 53917, and also strong support at 48730.
As long as BTC is moving above 50D MA and inside this channel in 4HR TimeFrame, we can see a bullish run and we are safe.
Thanks!!
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If BTC breaks this channel, the local support would be 60266, 57762, 53917, and also strong support at 48730.
As long as BTC is moving above 50D MA and inside this channel in 4HR TimeFrame, we can see a bullish run and we are safe.
Thanks!!
Please like and share, if you want to appreciate my work!!
Comment:
Bear market started just after the violation of the channel shown above..!!