[10/06] Beast Trading _ Today's Bitcoin Analysis
[10/06] Beast Trading _ Today's Bitcoin Analysis
Bitcoin eventually rose after breaking through resistance at the trend line from 69k.
Although there has not been an extraordinary rise, it has continued to hold out in a downward position supported by various grounds (Eliot wave, Fibonacci, auxiliary indicators, etc.).
First of all, I think we're a little bit more likely to see a technical rebound for the time being because we've broken through the long-term downward trend of 69k.
The level of difficulty is very high, so I think we should focus on the response rather than the prediction.
I'll tell you the patterns and corresponding lines to check!
1. Red Rising Wedge Pattern
You see a little rising wedge.
If you leave the bottom line, you can see a lot of additional falls.
2. Top and bottom orange trend line
Lower wire - support (not strong)
Top Line - Resistance (not strong)
3. Green decline trend line
It acts as a resistance as a trend line that connects the last high of 25.2k and the cpi high of 22.8k. Very positive for elevation when piercing
4. Blue line of sale
It is the section where the selling point is stacked, and it acts as a resistance based on the current standard.
5. Black downward trend line
It is currently breaking through the downward trend line from 69k (reporting point).
The long position seems to be more advantageous while the chart is located above this trend line.
6. 17.5k & 18.1k
These are important low-point lines. Risk of additional drop in case of departure up
Bitcoin eventually rose after breaking through resistance at the trend line from 69k.
Although there has not been an extraordinary rise, it has continued to hold out in a downward position supported by various grounds (Eliot wave, Fibonacci, auxiliary indicators, etc.).
First of all, I think we're a little bit more likely to see a technical rebound for the time being because we've broken through the long-term downward trend of 69k.
The level of difficulty is very high, so I think we should focus on the response rather than the prediction.
I'll tell you the patterns and corresponding lines to check!
1. Red Rising Wedge Pattern
You see a little rising wedge.
If you leave the bottom line, you can see a lot of additional falls.
2. Top and bottom orange trend line
Lower wire - support (not strong)
Top Line - Resistance (not strong)
3. Green decline trend line
It acts as a resistance as a trend line that connects the last high of 25.2k and the cpi high of 22.8k. Very positive for elevation when piercing
4. Blue line of sale
It is the section where the selling point is stacked, and it acts as a resistance based on the current standard.
5. Black downward trend line
It is currently breaking through the downward trend line from 69k (reporting point).
The long position seems to be more advantageous while the chart is located above this trend line.
6. 17.5k & 18.1k
These are important low-point lines. Risk of additional drop in case of departure up
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