Bitcoin local support and resistance and next TPs
Updated
Hi hope everyone doing fine.
based on my previous analysis the price reached the first Target , i expect some healthy correction to 22k-21800 because some traders will going to save profit which increase selling pressure , in another hand many sort position with high leverages got liquidate which is good sign of upward pressure .
now price is on important level which can breaks the MA200 (1D) and if it happen and remain for the one more daily candle ,bulls will take the full control.
also RSI is near to level 70 which is good sign for upward movement.
happy trading
based on my previous analysis the price reached the first Target , i expect some healthy correction to 22k-21800 because some traders will going to save profit which increase selling pressure , in another hand many sort position with high leverages got liquidate which is good sign of upward pressure .
now price is on important level which can breaks the MA200 (1D) and if it happen and remain for the one more daily candle ,bulls will take the full control.
also RSI is near to level 70 which is good sign for upward movement.
happy trading
Note
hello everyone hope you doing great, I'm doing fine just was stay away from trading view for a while.on this analysis BTC didn't hit those levels , but as you can see the support line hold it several time for nearly two months.
again the price is on important area , the resistance is around 22300-22500 and if the price hold 21000 for couple of days we can see upward move and if break it we could expect to continue for higher targets .
i believe there is more chance to hit the resistance and goes back down to 20k level.
lets see how it goes and let me know what do you think!?
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