Resistances @ 7400 & 7800
Supports @ 7100 & 6900
Bitcoin is currently moving in a descending channel and earlier today we had a rise in demand and a good return.
An important resistance is at 7400; if #BTC can stabilize above this resistance, we can expect a lower high. But in general if we cross 7800 resistance level we can confirm a new uptrend.
The good news is, we have a decline in falling speed of the price in final waves and lastly, the status of the indicators which are promising.
Supports @ 7100 & 6900
Bitcoin is currently moving in a descending channel and earlier today we had a rise in demand and a good return.
An important resistance is at 7400; if #BTC can stabilize above this resistance, we can expect a lower high. But in general if we cross 7800 resistance level we can confirm a new uptrend.
The good news is, we have a decline in falling speed of the price in final waves and lastly, the status of the indicators which are promising.
Note
Possible Scenario
After correction until the indicated region and completing 5 waves, can start with an uptrend to reach for 8K area.
If Bitcoin makes this scenario happen; we can confirm the new ascending trend.
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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.
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.