Bitcoin is at critical jubcture now.
Bitcoin facing resistance from "Yellow" trendline as marked on the chart.
already faced resistance at this trendline 4 times sice 31 May 2022, this is the 5th time its facing resistance at yellow trendline.
Volume is reducing continously.
18500 is a resistance and 15600 is a Support.
If Breakout is given above "Yellow"...
$BTC #BTC Testing $16,905, Last 4H close looking good, current 4H needs to avoid bearish close. $17,301 next key resistance area to watch if gained $16,905. Current support at $16,750 not tested yet, will need to hold it if $16,905 rejects.
The new year started off quite well for the world’s largest cryptocurrency as BTC was up by 1.30% in the past 24 hours. The price level had developed a temporary support zone around $16.5K through which it is looking at the potential to test the resistance zone above the 0.236 FIB level.
It must be noted that BTC has not been able to break above the 0.236 FIB...
$BTC #BTC $16,383 support held during the weekend, currently on $16,526 support. $16,750 resisting as of now. Last 1D close with bullish engulfing, if followed thru $16,905 test possible.
$BTC #BTC broke $16,750 support exiting range $16,750-$16,905. Did not follow thru on Bullish engulfing on 1D from Dec 26, Last 1D closed following up on bearish engulfing from Dec 27 on 1D. Still testing $16,526 support, Watch $16,383 & $16,155 support areas.
The past week for BTC was of strong consolidation and diminishing volume. The price level constantly tested the resistance level at the 0.236 FIB level.
The RSI level has again formulated a rising channel pattern on the chart. However, the impact on the BTC price was minimal as compared to the rise in the RSI level
The MACD level is still attempting to cross...
Bitcoin is taking support at the small uptrend line.
There is no movement in market and BTC is trading at the resistance.
Let’s see if BTC able to break this resistance zone.
We may see a big move either side soon.
$BTC #Bitcoin $16,750 support remained in effect during the weekend and continues to, given range $16,750-$16,905 still maintained. Last 1D closed with bullish pin bar, possible bullish engulfing on 1D. Continue watching given S/R areas
Bitcoin is moving in 1% trading range from last 4 days. Nothing has changed for BTC and support/resistance level remains same. Use stop loss in all trades in case of any unexpected move.
Looks like traders are on holiday and enjoying Christmas Day with their family. You can also take some rest and spend time with family for better mental health.
Nothing much to explain about it , it just broke a triangle on weekly time frame and retested it too . I think we can have a rally to the downside from here . I am already short .
$BTC 1D closed with bullish engulfing as expected, but no sign of follow up from current 1D. Needs to breakout $17,097 to put follow through close today. As of now looking to test $16,750 support, $16,905 continues to resist, Requires to maintain current support to retest
Looking like further fall in Bitcoin we can earn well from it in this fall channel breakout and after that its completing its target of achieving previous low
The past week for the world’s largest cryptocurrency started on a positive note as the price level was able to break above $17.5K for the first time after November. Furthermore, the positive momentum led to a breakout above $18K but was unable to sustain for a longer duration. This could be justified on the 12-hour candlestick as the breakout represents a wick...
