A simple analysis, however, sometimes the simplest is the easiest to make decisions.
Initially, it is seen that in a macro view, BTC is within a bearish channel (represented by the red channel).
Within this channel, it appears that the paper has already broken through the steeper LTB (downtrend line), represented by the arrow remains yellow, which is a positive sign for buyers
This is the first resistance that has actually been broken.
It can be seen that within this channel, a small bullish channel has been formed, represented in green, and, still, within that channel, there is a triangle in which the price is moving.
For a more optimistic view, the next step is to break this geometric figure, continuing the upward movement within the channel at its top (note that at the time of publication of this study, the price is lateralized on the dotted line, demonstrating indecision from the market). For this to occur, volume input is required, something that the oscillator I use (OBV) is not demonstrating at this time.
If there is a break down, the target is $ 25k, good for bears.
Subsequently, it is extremely important for the role to break the intersection point between the low and high channel, drawn by the blue line.
As soon as the price expires AND IF IT IS CONFIRMED ABOVE that point of insertion (check this if on the daily chart there are at least two candles above the LTB and if on the weekly chart the average of 9 periods was broken), the line of interest is broken. downtrend and the red channel becomes unsubsistent. But beware: great players love to set traps, so be cautious about risk management!
Furthermore, it follows the rule: strong movement of the BTC downward causes correction in the other altcoins, and, on the contrary, a bullish movement, also raises the price of altcoins.
Let us wait for the next price movements.
And people who are stuck, once again: bitcoin will come back, it always comes back, it always surprises and it always makes us happy. Only those who sell or panic lose. This is exactly what the big players want: that you sell your bitcoins at a loss. Don't be one of those! Resist that it will work !!
Let's go together!! =)
Initially, it is seen that in a macro view, BTC is within a bearish channel (represented by the red channel).
Within this channel, it appears that the paper has already broken through the steeper LTB (downtrend line), represented by the arrow remains yellow, which is a positive sign for buyers
This is the first resistance that has actually been broken.
It can be seen that within this channel, a small bullish channel has been formed, represented in green, and, still, within that channel, there is a triangle in which the price is moving.
For a more optimistic view, the next step is to break this geometric figure, continuing the upward movement within the channel at its top (note that at the time of publication of this study, the price is lateralized on the dotted line, demonstrating indecision from the market). For this to occur, volume input is required, something that the oscillator I use (OBV) is not demonstrating at this time.
If there is a break down, the target is $ 25k, good for bears.
Subsequently, it is extremely important for the role to break the intersection point between the low and high channel, drawn by the blue line.
As soon as the price expires AND IF IT IS CONFIRMED ABOVE that point of insertion (check this if on the daily chart there are at least two candles above the LTB and if on the weekly chart the average of 9 periods was broken), the line of interest is broken. downtrend and the red channel becomes unsubsistent. But beware: great players love to set traps, so be cautious about risk management!
Furthermore, it follows the rule: strong movement of the BTC downward causes correction in the other altcoins, and, on the contrary, a bullish movement, also raises the price of altcoins.
Let us wait for the next price movements.
And people who are stuck, once again: bitcoin will come back, it always comes back, it always surprises and it always makes us happy. Only those who sell or panic lose. This is exactly what the big players want: that you sell your bitcoins at a loss. Don't be one of those! Resist that it will work !!
Let's go together!! =)