A crucial trend line for BTC to be tested

the_baahubali Updated   
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


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.