Bitcoin Detailed Expalnation Like Beginner Guide
Bitcoin Short Overview:
As of 3rd April 2023, the current price of Bitcoin against USDT is $28,380. On 17th March 2023, the price entered the $26,592 zone and has been trading within this X-Zone for the last 17 days. The top zone of this channel is $29,185.
It is important to note that the price needs to break out of the X-zone for the next big move. The X-Zone channel support is at $26,592, and the resistance is at $29,186. The trend line support is at $27,700. These parameters should be taken into consideration before entering any trade.
In my opinion, we can see a price of $29,000 today if the price tests the X-Zone channel resistance again. However, it is crucial to keep in mind that if the price fails to break and gets rejected at $29,186, there is a high probability that it will hit $26,592 and $23,887. Therefore, it is essential to set stop-loss accordingly.
A breakout upwards means that Bitcoin is ready for $35,000.
This is a brief explanation about BTC/USDT price analysis. If you find this information helpful, please like, share and appreciate. For more upcoming quality updates, please follow me.
Thank you.
As of 3rd April 2023, the current price of Bitcoin against USDT is $28,380. On 17th March 2023, the price entered the $26,592 zone and has been trading within this X-Zone for the last 17 days. The top zone of this channel is $29,185.
It is important to note that the price needs to break out of the X-zone for the next big move. The X-Zone channel support is at $26,592, and the resistance is at $29,186. The trend line support is at $27,700. These parameters should be taken into consideration before entering any trade.
In my opinion, we can see a price of $29,000 today if the price tests the X-Zone channel resistance again. However, it is crucial to keep in mind that if the price fails to break and gets rejected at $29,186, there is a high probability that it will hit $26,592 and $23,887. Therefore, it is essential to set stop-loss accordingly.
A breakout upwards means that Bitcoin is ready for $35,000.
This is a brief explanation about BTC/USDT price analysis. If you find this information helpful, please like, share and appreciate. For more upcoming quality updates, please follow me.
Thank you.
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