BTCUSD Back to Support zone!/Bearish Prospective
BYBIT:BTCUSD
1H trend chart
After price touched Fib(0.5), price had broken out 1st downtrend
and it rallied back to Fib(0.618) which is 43977.
Meanwhile, Fib(0.618) is also a support level in previous price vibration
So consider it as a support zone.
Now, expect BTC could consolidate between 2nd downtrend and support zone
further form a descending triangle, then decide direction for bearish continuation.
1H trend chart
After price touched Fib(0.5), price had broken out 1st downtrend
and it rallied back to Fib(0.618) which is 43977.
Meanwhile, Fib(0.618) is also a support level in previous price vibration
So consider it as a support zone.
Now, expect BTC could consolidate between 2nd downtrend and support zone
further form a descending triangle, then decide direction for bearish continuation.
🌔Signal channel: t.me/tradingdiary_cat
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🌕Discussion group: t.me/rextalkcrypto
✨Bybit sign up: bybit.com/register?affiliate_id=12787&group_id=36093&group_type=1
💡Sign up through link
→Join Teaching Group for free!(PM me)
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.
🌔Signal channel: t.me/tradingdiary_cat
🌕Discussion group: t.me/rextalkcrypto
✨Bybit sign up: bybit.com/register?affiliate_id=12787&group_id=36093&group_type=1
💡Sign up through link
→Join Teaching Group for free!(PM me)
🌕Discussion group: t.me/rextalkcrypto
✨Bybit sign up: bybit.com/register?affiliate_id=12787&group_id=36093&group_type=1
💡Sign up through link
→Join Teaching Group for free!(PM me)
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.