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.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.