the_baahubali

A crucial trend line for BTC to be tested

BINANCE:BTCUSDT   Bitcoin / TetherUS
The yellow trend line has not been broken since 2017. Zoom in and witness the support level is around 6445. This is a very crucial support level . During Feb low (6000), the trend line was still active. MACD also suggesting sell-off and RSI suggesting oversold.

Other ideas:

• On 4H chart, BTC is forming a double bottom with the base at 6000. If this is followed, a rally could be expected for 13,000!
• Death cross has also happened that suggest more price drop but I think it's relatively flat and trend can be reversed in no time. However, people will panic sell until 50MA gets back above 200MA.
• I'm new to these analyses, hence, comments are appreciated.



Comment: Bounced exactly from the trend line
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out