22.03.17 / Bitcoin faces significant resistance!! Expected resis

#crack #bitcoin #binance #4 hour

- After the upward break of the white short-term downtrend line, the retest of the trend line was completed, but the orange long-term uptrend channel's center line and the long-term and short-term Fibonacci retracement level resistance overlapped the $41,386-$41,433 resistance.

- In the short term, the light blue arrow may open up the possibility of a convergence expansion that raises lows and lowers highs.

- If the $41,386-$41,433 resistance is not broken, we can expect a decline to retest the support of the white short-term downtrend line. If the retest support of the $39,770-$38,595 section, which has been flat in the medium term, fails, the possibility of a decline to $34,322 or the larger support section of 24k-23.5k opens up.

- If the $41,386-$41,433 resistance is broken, we can expect an upside to $43,600-$44,000, where the volume profile is formed in the previous move and the yellow medium-term uptrend Fibonacci extension level of 0.618 is located.

- After that, if the support of $41,386-$41,433, where the centerline of the orange long-term uptrend channel is located, is maintained, we can expect an uptrend towards the $46,700-$47,226 resistance section in the mid- to long-term.