BTCUSDT broken trendlines and possible path here
In this analysis, we are talking about two major trendlines that both broke. (Red & Black trendlines)
Black trendline breakout:
As you can see black trendline that was strong support for bitcoin broke and now this is a sign of weakness for bitcoin and those who are shorting bitcoin considering this breakout and also we can expect more dump here if 40K support breaks.
Red trendline breakout:
Also, strong resistance that each time stoped price from pumping break and price now is receiving support too.
Technically: if price here respects last supports zones that are[46K & 44K(retest breakout of red trendline)] we can expect rise here because red trendline resistance now is gone and because now black trendline turns to the resistance we put our last target near that.
So As we said red trendline that was a resistance turns to support and the black trendline turns to resistance and now we are looking for a pump from the support to resistance.
DISCLAIMER: ((trade based on your own decision ))
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Black trendline breakout:
As you can see black trendline that was strong support for bitcoin broke and now this is a sign of weakness for bitcoin and those who are shorting bitcoin considering this breakout and also we can expect more dump here if 40K support breaks.
Red trendline breakout:
Also, strong resistance that each time stoped price from pumping break and price now is receiving support too.
Technically: if price here respects last supports zones that are[46K & 44K(retest breakout of red trendline)] we can expect rise here because red trendline resistance now is gone and because now black trendline turns to the resistance we put our last target near that.
So As we said red trendline that was a resistance turns to support and the black trendline turns to resistance and now we are looking for a pump from the support to resistance.
DISCLAIMER: ((trade based on your own decision ))
<<press like👍 if you enjoy💚>>
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