BitcoinLong
BTC/USD Daily Chart Analysis
In the candlesticks chart - we can see Ascending Triangle, and here is a possible target for this technical figure at the 41400 level.
The linear chart shows another technical figure called Broadening Bottom with a potential target at the 36600 area.
For me, the second figure is more realistic with its potential. Of course, we need to follow up on all news about the inflation rate and look at the stock market for the correlation, etc.
Also, on both charts, I have drawn resistance levels with different significance for the price.
On RSI with 200 SMA, I have found an interesting pattern when the price stabilises higher than 200 SMA, which will have upward movement.
Again I posted my thoughts later than I had drawn them on charts. The next time I will post my analysis at the same time when I will finish it for myself.
Always Do your own research.
Practice makes perfect.
The river of knowledge has no bottom.
May the profit be with you!
The linear chart shows another technical figure called Broadening Bottom with a potential target at the 36600 area.
For me, the second figure is more realistic with its potential. Of course, we need to follow up on all news about the inflation rate and look at the stock market for the correlation, etc.
Also, on both charts, I have drawn resistance levels with different significance for the price.
On RSI with 200 SMA, I have found an interesting pattern when the price stabilises higher than 200 SMA, which will have upward movement.
Again I posted my thoughts later than I had drawn them on charts. The next time I will post my analysis at the same time when I will finish it for myself.
Always Do your own research.
Practice makes perfect.
The river of knowledge has no bottom.
May the profit be with you!
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.