BTCUSD: Support and resistance levels to watch closely!
• BTC is in a clear support level at $18.666 (black line);
• In order for BTC to react, it must break the blue line at $19.500, along with the 21 moving average. By doing this, the target would be the next resistance, which is only at $22.777 (red line);
• However, BTC must react as soon as possible, and if it loses the support at the black line, the situation might turn very bearish for it;
• BTC already lost its main purple trend line, which connects its bottoms since 2015;
• By losing its mid-term support level at 18k, it’ll reinforce a bearish movement all the way down to the next support at
14K, as seen in the weekly chart (green line);
• Regardless of what happens, we’ll have our answers soon. Either way, if BTC is about to turn bullish, we must wait for the confirmation of a breakout first.
Remember to follow me for more analysis like this! Keep in touch.
• In order for BTC to react, it must break the blue line at $19.500, along with the 21 moving average. By doing this, the target would be the next resistance, which is only at $22.777 (red line);
• However, BTC must react as soon as possible, and if it loses the support at the black line, the situation might turn very bearish for it;
• BTC already lost its main purple trend line, which connects its bottoms since 2015;
• By losing its mid-term support level at 18k, it’ll reinforce a bearish movement all the way down to the next support at
14K, as seen in the weekly chart (green line);• Regardless of what happens, we’ll have our answers soon. Either way, if BTC is about to turn bullish, we must wait for the confirmation of a breakout first.
Remember to follow me for more analysis like this! Keep in touch.
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