Hi guys, this is my overview for BTCUSD, feel free to check it and write your feedback in comments👊
For a long time, the price was trading sideways inside a wide flat range between the $99000 support area and the $112000 resistance level.
After accumulating volume, bitcoin made a strong upward impulse and performed a breakout, pushing above the top of the flat.
Following this movement, the price action began to form a rising wedge pattern, moving between its clear support and resistance lines.
Recently, price tested the resistance line of the wedge and then started a predictable correction back down towards support.
Now, BTC is approaching the support line of the wedge, which aligns with the important horizontal support area around $112000-$113500.
I expect that the price can test this support line and then bounce up to the $125000 resistance line of the wedge.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
For a long time, the price was trading sideways inside a wide flat range between the $99000 support area and the $112000 resistance level.
After accumulating volume, bitcoin made a strong upward impulse and performed a breakout, pushing above the top of the flat.
Following this movement, the price action began to form a rising wedge pattern, moving between its clear support and resistance lines.
Recently, price tested the resistance line of the wedge and then started a predictable correction back down towards support.
Now, BTC is approaching the support line of the wedge, which aligns with the important horizontal support area around $112000-$113500.
I expect that the price can test this support line and then bounce up to the $125000 resistance line of the wedge.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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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.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.