Bitcoin BTC USDT daily analysis
what i think is the resistance = orange lines & red lines. (Red being bigger resistance)
what i think is the support = blue lines
black line = trend line .
BTC seems to have a good resistance as per the red boxes shown on the chart.
Depending on how the next 4hr candle closes will determine the direction of BTC short term.
Should BTC pass both resistances, it may head up to around the $11700 mark (Black top line).
Should BTC pass the top black line, it will indicate that BTC is continuing its bullish trend line.
If BTC heads past the resistances but does not pass the top black line, we could see a double top and an ascending triagle pattern form, which is a bearish indicator.
what i think is the support = blue lines
black line = trend line .
BTC seems to have a good resistance as per the red boxes shown on the chart.
Depending on how the next 4hr candle closes will determine the direction of BTC short term.
Should BTC pass both resistances, it may head up to around the $11700 mark (Black top line).
Should BTC pass the top black line, it will indicate that BTC is continuing its bullish trend line.
If BTC heads past the resistances but does not pass the top black line, we could see a double top and an ascending triagle pattern form, which is a bearish indicator.
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