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BTC has already broken through the yellow support zone, even to the green resistance zone as the figure shows. Next, we have to focus on whether it would test the bottom support zone just like BTC acted from January to July last year.
If the bottom pattern is established, we can open our long positions.
Besides, we have to be careful whether the support zone is broken or not. If the level is lost, it might form a huge "Head and Shoulders Top", which will lead to a sharper drop.
I would be glad if you share your opinion and hit the like button!
If you like my analysis, you can follow me to see my analysis at once.
Attention: this isn't financial advice, we are just trying to help people understanding how to analyze with technical indicators.
BTC has already broken through the yellow support zone, even to the green resistance zone as the figure shows. Next, we have to focus on whether it would test the bottom support zone just like BTC acted from January to July last year.
If the bottom pattern is established, we can open our long positions.
Besides, we have to be careful whether the support zone is broken or not. If the level is lost, it might form a huge "Head and Shoulders Top", which will lead to a sharper drop.
I would be glad if you share your opinion and hit the like button!
If you like my analysis, you can follow me to see my analysis at once.
Attention: this isn't financial advice, we are just trying to help people understanding how to analyze with technical indicators.