Bitcoin before the next buy signal?
Brief analysis of Bitcoin (BTCUSD), H2 chart
In the observation period of the H2 chart, we can currently identify an ascending trend channel, which from the point of view of technical analysis implies a bullish character.
On the upside, the resistance zone is clearly limited in the area of approx. 35,300 (red zone), which has so far slowed down further price increases and keeps them in check.
The currently ongoing downward reaction should meet appropriate support at the latest in the range of approx. 33,600 / 32,600 (green zones), after which a further attack on the said upper limit level should follow.
As long as the lower limit level of approx. 32,600 is not sustainably fallen below, the long side is currently to be clearly preferred. With a break on the upside, the dominance of demand on the long side would increase even further, which should lead to a dynamic upward movement and further rising prices.
Note:
Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided.
In the observation period of the H2 chart, we can currently identify an ascending trend channel, which from the point of view of technical analysis implies a bullish character.
On the upside, the resistance zone is clearly limited in the area of approx. 35,300 (red zone), which has so far slowed down further price increases and keeps them in check.
The currently ongoing downward reaction should meet appropriate support at the latest in the range of approx. 33,600 / 32,600 (green zones), after which a further attack on the said upper limit level should follow.
As long as the lower limit level of approx. 32,600 is not sustainably fallen below, the long side is currently to be clearly preferred. With a break on the upside, the dominance of demand on the long side would increase even further, which should lead to a dynamic upward movement and further rising prices.
Note:
Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided.
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.