#BTC UPDATE :
In 1D TF ascending broadening wedge upper line rejected couple of times today i add all support lines as we already discussed earlier in Upper Updates 1) rising wedge scenario : we have to break from this wedge because we know support from rising wedge still around 23600 area and even if this is going to be broken then next important support is 2) moving averages 20MA & 50MA which is going to be very very important line of support around 23500 to 23000 range and add 3) CPR lines also going to be most important support around 22700 area. 4) Add 200WMA if you look in chart blue line is the 200WMA since the price of Bitcoin is above it the same line is definitely very very strong support line for bitcoin Now you can see The Profit Station Family between price range of 22500 - 23000 area we have some very very strong line of support lying so even if the price of bitcoin is going to break the support, so expecting continuation showing manner towards 25000 - 26000 before choosing trend direction.
In 1D TF ascending broadening wedge upper line rejected couple of times today i add all support lines as we already discussed earlier in Upper Updates 1) rising wedge scenario : we have to break from this wedge because we know support from rising wedge still around 23600 area and even if this is going to be broken then next important support is 2) moving averages 20MA & 50MA which is going to be very very important line of support around 23500 to 23000 range and add 3) CPR lines also going to be most important support around 22700 area. 4) Add 200WMA if you look in chart blue line is the 200WMA since the price of Bitcoin is above it the same line is definitely very very strong support line for bitcoin Now you can see The Profit Station Family between price range of 22500 - 23000 area we have some very very strong line of support lying so even if the price of bitcoin is going to break the support, so expecting continuation showing manner towards 25000 - 26000 before choosing trend direction.
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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.