How will BTC move forward?
Updated
Hello to all members of TradingView and my followers.
Bitcoin has continued the upward trend in the past day. The buyers' support has caused the price to hit the resistance that has been considered for Bitcoin in the past. This resistance is in the range of $22,300 to $23,190 and has been highly reactive. Due to the upward spike movement (demand increases faster than supply) to this resistance and the negative reaction, Bitcoin price is expected to enter a bearish trend.
The price is now trading above the $21,800 level and testing the 100 hourly simple moving average.
This range trend can be between the mentioned resistance and the support drawn in the $20,600. The price is still inside its short-term ascending channel, and until the bottom of the channel breaks down at the powerful $21,000, Bitcoin could move towards its resistance.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
Bitcoin has continued the upward trend in the past day. The buyers' support has caused the price to hit the resistance that has been considered for Bitcoin in the past. This resistance is in the range of $22,300 to $23,190 and has been highly reactive. Due to the upward spike movement (demand increases faster than supply) to this resistance and the negative reaction, Bitcoin price is expected to enter a bearish trend.
The price is now trading above the $21,800 level and testing the 100 hourly simple moving average.
This range trend can be between the mentioned resistance and the support drawn in the $20,600. The price is still inside its short-term ascending channel, and until the bottom of the channel breaks down at the powerful $21,000, Bitcoin could move towards its resistance.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
Note
Note
We did not see price consolidation above the resistance line
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