Forming resistance zone, the possibility of BTC going down?
BTC appeared many resistance areas, is it ready for a short period ?
This article will analyze the BTCPERP 4h chart, besides just the indicator Price Barrier.
According to the 4h frame we can see BTC made a nice rally from the 16k5 area up to the 23k5 area.
During this process of creating a trend line we can see the green/yellow cloud below the price is the Green Barrier and the price tends to go in the direction of the resistance line,
(It can be shaped like roadblocks to keep the vehicle moving in the right direction). But this trend was broken on January 23, 2023 as we see on the chart.
Then the price will move sideways for a while and not be able to break out of the 23k5 zone. It is at these points that Red Barriers appear.
They are like resistance areas and price can't break through. Now that a Red Barrier is appearing, is there a chance for a BTC drop after days of failure to break through this zone ?
This article will analyze the BTCPERP 4h chart, besides just the indicator Price Barrier.
According to the 4h frame we can see BTC made a nice rally from the 16k5 area up to the 23k5 area.
During this process of creating a trend line we can see the green/yellow cloud below the price is the Green Barrier and the price tends to go in the direction of the resistance line,
(It can be shaped like roadblocks to keep the vehicle moving in the right direction). But this trend was broken on January 23, 2023 as we see on the chart.
Then the price will move sideways for a while and not be able to break out of the 23k5 zone. It is at these points that Red Barriers appear.
They are like resistance areas and price can't break through. Now that a Red Barrier is appearing, is there a chance for a BTC drop after days of failure to break through this zone ?
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