irCryptoClub - BTC/USDT
Updated
BTC/USDT
The price returned to the top by reacting to the range of $ 39,200 ...
With the previous wave penetrating the 41300 range and the price correction getting bigger, the $ 41600 range is now the 1-hour resistance and the 42200 is the 4-hour resistance, and the price is expected to be ready to start a new correction wave by entering this range.
Also, the main resistance of Bitcoin with the separation of the new waves is around $ 43,200, and as long as the price is below this range, the overall market trend is down.
If necessary, the analysis will be updated again.
The price returned to the top by reacting to the range of $ 39,200 ...
With the previous wave penetrating the 41300 range and the price correction getting bigger, the $ 41600 range is now the 1-hour resistance and the 42200 is the 4-hour resistance, and the price is expected to be ready to start a new correction wave by entering this range.
Also, the main resistance of Bitcoin with the separation of the new waves is around $ 43,200, and as long as the price is below this range, the overall market trend is down.
If necessary, the analysis will be updated again.
Trade closed: target reached
BTC/USDT
Given the powerful candlestick that managed to cross the $ 40,000 mark, it is likely that a new floor was built in the first support range of about $ 38,200.
Accordingly, the $ 39,800 range is the main support of the current range, and if the daily candlestick opens above this range, the trend towards the target specified in the main analysis, ie around $ 43,200, will begin.
The loss of the new analysis is $ 39,500 and the analysis will be valid as long as the price does not penetrate this range.
Trade active
Reacted to the 4-hour resistance (42200) mentioned in the previous analysis.Due to crossing the very important range of $ 41600 in the previous wave, if it manages to keep the price above this level within the next 24 hours, it will move in the upward trend again and the current price growth is expected to continue up to about $ 43200. Be.
Loss for the current range, penetration to $ 40,500
Trade closed: target reached
It is still moving in the direction of analysis.
By re-examining the chart in 1-hour timeframe and validating the ranges, and considering the current wave as the last positive market wave, it is expected that the bitcoin price trend will continue in the form of a chart.
Accordingly, the most important static resistance range is around $ 43,200 and the downward trend resistance from the $ 48,000 ceiling is around $ 44,200, and it is expected that the price trend will fall again in the short term once the price enters this range.
Therefore, due to the above, caution in trading in the coming days is necessary, and as long as the price of Bitcoin is not above the above limits, no confirmation will be issued for the medium and long-term growth of the market.
If you cross these limits, the analysis will lose its credibility and the old targets will be available in the range of $ 50,000- $ 53,000.
If necessary, the analysis will be updated.
See the new analysis here:
Good Luck
Crypto Club TA team
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Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/CryptoClub_Technicalanalyst
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