Hello, welcome to this BTC /USDT 4hr chart update by CRYPTOSANDERS.
I have tried my best to bring the best possible outcome to this chart.
Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis.
CHART ANALYSIS:-Bitcoin has formed a bearish triangle pattern and found support at the lower boundary near the $18K range until it recently broke above the triangle.
Typically, a breakout from the upper edge of a bearish triangle is considered a bullish signal for the price. However, the market conditions are slightly different now, with some significant resistance levels over the near term.
The 100-day moving average of $20.8K is the main barrier for Bitcoin, as the price is struggling to hold above this level after a few failed attempts.
Optimism will likely return to the market if the price successfully exceeds this level. Nevertheless, there is a higher chance that Bitcoin will get rejected at this level and plummet based on the lower timeframe price action.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
thank you.
I have tried my best to bring the best possible outcome to this chart.
Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis.
CHART ANALYSIS:-Bitcoin has formed a bearish triangle pattern and found support at the lower boundary near the $18K range until it recently broke above the triangle.
Typically, a breakout from the upper edge of a bearish triangle is considered a bullish signal for the price. However, the market conditions are slightly different now, with some significant resistance levels over the near term.
The 100-day moving average of $20.8K is the main barrier for Bitcoin, as the price is struggling to hold above this level after a few failed attempts.
Optimism will likely return to the market if the price successfully exceeds this level. Nevertheless, there is a higher chance that Bitcoin will get rejected at this level and plummet based on the lower timeframe price action.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
thank you.
