Hello, dear TradingView members.
This idea is a Bitcoin analysis.
I haven't posted for almost a week because I was trying to figure out what way this market is going to choose. Moreover, at last, I decided no one knows yet.
Bitcoin has broken the downtrend channel, and now it's moving sideways. However, there is yet another downtrend channel we have not broken.
Moreover, the Middle Bollinger Band in the Monthly timeframe can strongly resist the price.
Now let us get to this chart.
There are two resistance levels. One is the local, and the other is a solid resistance area.
Also, we have two support levels that will push and hold the price up for now.
If the price touched the dynamic band of the downtrend channel, we might see another push up.
Our speedometer indicator is hinting at Sell.
RSI still is not showing oversold signals in the weekly timeframe, so we still have room to go lower.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This idea is a Bitcoin analysis.
I haven't posted for almost a week because I was trying to figure out what way this market is going to choose. Moreover, at last, I decided no one knows yet.
Bitcoin has broken the downtrend channel, and now it's moving sideways. However, there is yet another downtrend channel we have not broken.
Moreover, the Middle Bollinger Band in the Monthly timeframe can strongly resist the price.
Now let us get to this chart.
There are two resistance levels. One is the local, and the other is a solid resistance area.
Also, we have two support levels that will push and hold the price up for now.
If the price touched the dynamic band of the downtrend channel, we might see another push up.
Our speedometer indicator is hinting at Sell.
RSI still is not showing oversold signals in the weekly timeframe, so we still have room to go lower.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
