BTC 4-Hour Chart
For now, I think the price will continue in the big circle for the next 1-3 weeks. Why?
1) Parallelism
The upper yellow downtrend line and the white downtrend lines are parallel to each other. I think the price will reach the white downtrend area again. Reaching there again will take the price to around $52700.
2) Megaphone
When we look at the yellow lines, we can see that the price has been forming a megaphone structure that has been continuing downwards for about a few days. A price that wants to go below this megaphone structure again will see the $52700 area. This means the intersection with the contact of the white downtrend lines.
3) Horizontal Lock
The $59500-$60700 range is the most important resistance range for the price. A price that exceeds $60700 would gain a bullish appearance. Apart from this, a horizontal process that can continue between roughly
52K - 60K seems more likely for now.
1) Parallelism
The upper yellow downtrend line and the white downtrend lines are parallel to each other. I think the price will reach the white downtrend area again. Reaching there again will take the price to around $52700.
2) Megaphone
When we look at the yellow lines, we can see that the price has been forming a megaphone structure that has been continuing downwards for about a few days. A price that wants to go below this megaphone structure again will see the $52700 area. This means the intersection with the contact of the white downtrend lines.
3) Horizontal Lock
The $59500-$60700 range is the most important resistance range for the price. A price that exceeds $60700 would gain a bullish appearance. Apart from this, a horizontal process that can continue between roughly
52K - 60K seems more likely for now.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.