Is the downtrend over ? BITCOIN
Bitcoin analysis in daily and weekly timeframes:
Description :
Bold continuous red line is the 105-day downtrend line in daily timeframe.
Bold continuous green line is the 409-day uptrend line in the weekly time frame.
- Green dotted lines are the main resistance lines ahead (possible targets).
The red dotted line is also the first major close support.
technical analysis :
- According to the explanations provided in the above chart, despite the fluctuation of $ 5500 yesterday, the price finally closed in a very good place. Above the common area between the downtrend and uptrend lines!
- The number expected was $ 36,974, but fortunately the price closed at $ 38,377. (Approximately $ 1,500 higher than expected).
- The average trading volume in the daily time frame was also excellent, the trading volume was almost 3 times the average. (The average was 44,000 units but the volume was more than 120,000 units).
- Now, after the closing of 5 daily candles, the price pullback can be trusted to the 105-day downtrend line.
tip :
Do not forget capital management.
Do not forget to manage risk to Reward.
Good luck and profitable.
Description :
Bold continuous red line is the 105-day downtrend line in daily timeframe.
Bold continuous green line is the 409-day uptrend line in the weekly time frame.
- Green dotted lines are the main resistance lines ahead (possible targets).
The red dotted line is also the first major close support.
technical analysis :
- According to the explanations provided in the above chart, despite the fluctuation of $ 5500 yesterday, the price finally closed in a very good place. Above the common area between the downtrend and uptrend lines!
- The number expected was $ 36,974, but fortunately the price closed at $ 38,377. (Approximately $ 1,500 higher than expected).
- The average trading volume in the daily time frame was also excellent, the trading volume was almost 3 times the average. (The average was 44,000 units but the volume was more than 120,000 units).
- Now, after the closing of 5 daily candles, the price pullback can be trusted to the 105-day downtrend line.
tip :
Do not forget capital management.
Do not forget to manage risk to Reward.
Good luck and profitable.
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