BITCOIN - At the edge of the precipice!
Well, on a daily timeframe, We have two channels. One is the long-term descending channel and the ascending channel that was created, and this is the area between the two channels. Usually, when a high-powered channel is broken, they then have a pullback to that important area.
As you can see in the chart, the falling candlesticks have gotten smaller over the past few days. Why? Because this has been an important area. The price reaction in the yellow range will determine bitcoin's next move. This range is the Bitcoin decision range. The specific target above Bitcoin is in the range of $ 47,000.
We are not dealing with higher moves now, and in case of a good price reaction up to the range of $ 47,000, we will analyze higher targets. Bitcoin, on the other hand, may go as low as $ 40,500 in the middle of the channel because it has to collect orders below the previous channel's ceiling area.
The worst thing that can happen is that the bottom line of the canal is empty, and if you cross it, it will go down to the bottom of the channel. Then I will have reactions there again. I think the yellow range is right for you to buy right now.
As you can see in the chart, the falling candlesticks have gotten smaller over the past few days. Why? Because this has been an important area. The price reaction in the yellow range will determine bitcoin's next move. This range is the Bitcoin decision range. The specific target above Bitcoin is in the range of $ 47,000.
We are not dealing with higher moves now, and in case of a good price reaction up to the range of $ 47,000, we will analyze higher targets. Bitcoin, on the other hand, may go as low as $ 40,500 in the middle of the channel because it has to collect orders below the previous channel's ceiling area.
The worst thing that can happen is that the bottom line of the canal is empty, and if you cross it, it will go down to the bottom of the channel. Then I will have reactions there again. I think the yellow range is right for you to buy right now.
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As can be seen in the chart, the current bitcoin candlestick has penetrated the Ichimoku cloud . If subsequent candlesticks can be "stabilized" in the area above the Ichimoku cloud , we can expect the price to rise to a significant resistance of $ 50,000.
Of course, if Bitcoin can not penetrate the top of the Ichimoku cloud , this range will find resistance and can push the price of Bitcoin back to lower support. If it falls again, the first support will be $ 42,000 and then $ 40 ,000.