In above chart, We can see a trend line acting as a support and resistance for about a year. Above trend line acted as support for about 4 times. After price broke out of trend line now the price is going for a retest. Thus we are going to see more downside in price
Descending Channel Price Action analysis - BTC
Price Prediction Analysis
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with...
With reference to the BTCUSDT Performance, I am providing the Analysis Based on SMA, Resistance, Support, and RSI
Weekly Analysis -
Bitcoin has made a decent comeback after a long/ Big fall in the Period of April to June ( 48000 USD to 20000 USD ) It started gaining momentum again / The bulls are going to take it back from last few weeks i.e. From 20000 USD...
BTC is again going to see 28-29K zone. Depending on the market sentiments of US dollar and what FED is doing to it, this should atleast go to test above prices.
As mentioned in comments of my previous idea, Btc daily chart has formed a rising wedge pattern which usually breaks down. At around 22400ish will be the support level to watch. If that holds on daily the original target of 28850 will be intact. If not, the support of 19150ish may be tested.
At the moment bitcoin is most likely being corrected by the momentum that began on July 26, the correction should not change the existing growing trend. The idea that a major player bought bitcoin at an average price of 20,500 remains valid, further impulse growth from the current marks will confirm this idea.
Altcoins
At the moment, the key resistance in the...
btc is continously trying to hold th range of 19.7-20k as lower support and 20350-20400 as imeediate support for push todarwds first resistance 20800 . So if btc succeeds in staying above 20800 then we might se 21300 , 21800 , 22500 , 22800 with local resistance at each. So btc much be above 20400 for now . , else if goes down shouldpull back froom 19.7-19.5k range
The above chart of Bitcoin (BTCUSDT) laid out a Cup and Handle pattern (Bullish Pattern) . In a Cup and Handle pattern, the price movement forms a U-shaped Cup and then a subsequent price drift downwards forms a handle.
This pattern in general is characteristic of a Bullish trend. If the price breakout and moves towards the uptrend, the bullish pattern is...
AS we in recent days market is start pumping again but it is hard to accept market will came to retest it's levels which is around $23000 so its time to either hedge your long position or take fresh showrt position
