Bitcoin (BTC/USD) - Trend, Support, Resistance - Daily - 9/07/21
Bitcoin's daily uptrend is at risk. BTC price has fallen down below trendline support, and is currently holding above the $46,000 to $43,000 support range.
Bullish scenario:
-BTC price finds and holds support above $43,000. Then bounces up to set a lower-high in the daily price trend.
-Resistances above: $47379, $50000, $53034, $55000, $60000.
Bearish scenario:
-BTC price falls below support and is rejected down under $43,000. Price would continue to seek a lower-low in the daily price trend.
-Supports below: $41220, $38493, $34555, $32344, $30000.
Note: On a long-term Weekly chart, if price holds above $30000 to $35000, a weekly higher-low in the price could be set.
Bullish scenario:
-BTC price finds and holds support above $43,000. Then bounces up to set a lower-high in the daily price trend.
-Resistances above: $47379, $50000, $53034, $55000, $60000.
Bearish scenario:
-BTC price falls below support and is rejected down under $43,000. Price would continue to seek a lower-low in the daily price trend.
-Supports below: $41220, $38493, $34555, $32344, $30000.
Note: On a long-term Weekly chart, if price holds above $30000 to $35000, a weekly higher-low in the price could be set.
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Comment: 10/03/21 to 10/08/21:
-BTC/usdt (bitcoin): resistance tests, higher-low price potential.
-BTC/usdt (bitcoin): resistance tests, higher-low price potential.
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-A lower-high in the BTC price is currently being tested. Price is consolidating and Support levels are also being tested. If price drops and closes below $44,000, a new daily downtrend will begin.