BTC market update 22.01 - bullish descending triangle ?
Hello guys,
We are seeing a slight reversal in the BTCUSD trend since we touched $28,800 during the Asian session.
All eyes on the $32,000 horizontal level - previous support on the daily timeframe, now could be te turned into resistance in combination with the 4-hour chart 200-day EMA.
If surpassed, then this will open the door for recovering to the $34,800 -$35,000 area.
Down, at $30,750 we see the lowest candle close on the 4-h chart, which should now act as a support.
In the meantime, it is worth noting that there is a reversed descending triangle bullish pattern on the lower timeframes that might result in a continuation of the uptrend.
Stay safe,
Best Regards
We are seeing a slight reversal in the BTCUSD trend since we touched $28,800 during the Asian session.
All eyes on the $32,000 horizontal level - previous support on the daily timeframe, now could be te turned into resistance in combination with the 4-hour chart 200-day EMA.
If surpassed, then this will open the door for recovering to the $34,800 -$35,000 area.
Down, at $30,750 we see the lowest candle close on the 4-h chart, which should now act as a support.
In the meantime, it is worth noting that there is a reversed descending triangle bullish pattern on the lower timeframes that might result in a continuation of the uptrend.
Stay safe,
Best Regards
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