Hello everyone, let's look at the 1D BTC to USDT chart, in this situation we can see how the price came out of the downtrend channel to the top, which gave a dynamic price increase, and then a new channel was created, this time an uptrend from which we could see an exit from the bottom. In a situation where the exit from the channel confirmed the decrease by the height of the channel, we could see another price decrease.
Let's start by defining the targets for the near future that the price must face:
T1 = 90088 USD
T2 = 95448 USD
Т3 = 103291 USD
Т4 = zone from 109435 USD to 115187 USD
Now let's move on to the stop-loss in case the market continues to fall:
SL1 = 79108 USD
SL2 = 72179 USD
SL3 = 61983 USD
When we look at the RSI indicator and the STOCH indicator, we can see that the energy is very much depleted and we are at the lower limit of the range, where previously we could often see a change in the price direction after such a situation.
Let's start by defining the targets for the near future that the price must face:
T1 = 90088 USD
T2 = 95448 USD
Т3 = 103291 USD
Т4 = zone from 109435 USD to 115187 USD
Now let's move on to the stop-loss in case the market continues to fall:
SL1 = 79108 USD
SL2 = 72179 USD
SL3 = 61983 USD
When we look at the RSI indicator and the STOCH indicator, we can see that the energy is very much depleted and we are at the lower limit of the range, where previously we could often see a change in the price direction after such a situation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.