BTCUSD needs to move up from trendline

Zaktualizowano

If BTCUSD stays too long near the trendline, then orders will be filled up making it easier to go below 2,500.

If Bitcoin can move up and away from it, it has to reenter the supply zone near 2,600. If it goes above it, then the broken blue line will become its resistance.

Uwaga

Bitcoin just broke down from the trendline support. Next target is 2400.

Uwaga

Just an idea.

Bitcoin could be forming a double bottom. If the bottom doesn't form, next stop is near 2,300 level.

Uwaga

RSI and averages points down so it could move back to 2500. In this zone, buyers and sellers must decide if price goes up or down.

If it goes down, it could reach 2400 and retest the previous bottom.
If it goes up, it will challenge the resistance at 2,540

Uwaga

Looks like bitcoin is forming a continuation pattern going down.

2390 is the next target. Lower target is 2240.

Uwaga

I'm seeing a bullish divergence in RSI.

Unfilled orders on the 2,400 levels are high, thus, it would be difficult to go below it.

Uwaga

Don't let that candlestick have a long wick. Pls let it break.

Uwaga

Huge 223 BTC wall up ahead at 2,500

Uwaga

Bitcoin needs rest.

Could accumulate around 2450 - 2470 levels before going up again

Uwaga

let's break 2,500 first. 3rd time's the charm, right?

Uwaga

let's aim small first. go for 2,500

Uwaga

Eat that wall at 2490. Previously, the wall was at 200 BTC, now it is at 90 BTC.

Uwaga

Wall is gone! 2500 and up here we come.

Uwaga

2540 is next

Uwaga

On a higher timeframe, we need to break the yellow downtrend line to get to 2580.

Uwaga

A dump just happened. Retracing back to 0.618 area

Uwaga

If bitcoin stays within the channel, then uptrend momentum is safe.
But if it goes down, then expect to go lower than 2,400.

Uwaga

Just like in basketball, it's bad to stay long in one area. Bitcoin needs to go up from it or else there will be more lows to come.

For now, let's see how the price reacts.

Uwaga

Going up to 2520

Uwaga

Please breach above 2520! Then we're going to 2544 next.

If not, it could retrace back to 2500.

Uwaga

Stay above 2520. If it does, uptrend swing will continue.

If it goes below, then it would be difficult to go up again.

Uwaga

Bitcoin just reached near top of the channel. It could be profit taking time or nah.

Uwaga

BTC broke out from the downtrend line. We just need to get away from this zone below 2,500 or it could spell trouble.

clydeuscope

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