22.03.21 / Checking important short-term support level

#crack #bitcoin #binance #4 hour

- After the last briefing, an attempt was made to break through the orange long-term uptrend channel center line, which appears to be an important resistance line, but it failed to support and the pressure appeared again.

- As you can see from the light blue trend line, the possibility of further convergence should be kept in mind as the trend is changing without raising the high in the mid-sized wave.

- Resistance appeared at $42,296, which is the current yellowish green mid-term uptrend Fibonacci extension level of 0.618, and you can see that it is trying to support $40,774, which is the 0.5 level of the same Fibonacci extension.

- If support at $40,774 succeeds, we can expect a move to renew the $42,594 / $45,400 / $45,821 highs.

- If the support of $40,774 fails, a decline towards the white long-term convergence line or the light blue medium-term convergence line should also be considered.