Falls in price deceive. Bitcoin's Daily Chart is Demand-driven!

2 thg 11, 2024

https://www.tradingview.com/x/EYHjGd94/

I know Bitcoin sold off really quickly about 48 hours ago trying to reach higher highs and resistance. Price also made no further attempts to retest the breakout high price, but not yet.

Daily chart is attached. It looks indicative of higher prices to my eyes, but we only see what we see. If I am missing something more bearish please write in the comments. It's a learning curve for us all.

Quickly my reasons, Bitcoin switched to a Demand-channel in recent months, you know higher highs and higher lows, now recently Bitcoin price has remained in the upper part of channel, for me that is a bullish sign. Check the chart. Thanks for reading.

2 thg 11, 2024

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Another look at Bitcoin Daily Chart with Weekly support zones. This support is important right now because Bitcoin is travelling down a Triple Top, but its price found weekly support recently.
Bitcoin price still remains in the upward trending demand channel for now, until the lower level of this channel is breached, its uptrend is still intact.

2 thg 11, 2024

Ghi chú

Last Chart: 5m Bitcoin & 15M RSI Bullish Divergence.

2 thg 11, 2024

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2 thg 11, 2024

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Buy the Squeeze up 69,500
SL: 68990

2 thg 11, 2024

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Price is coming down to fill-orders of buyers & down to the 38.2% level and then make a break higher.