Bitcoin Multi-Timeframe Analysis
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Hourly Chart: Downward regression channel (Bearish)
Daily Chart seems to find support at 58500, closing below this level could push bitcoin down to 52K.
Weekly Chart: A candle with a long upper shadow followed by a bearish engulfing candle after a bullish rally is not a good sign! (Bearish)
Monthly Chart: Gravestone Doji..! (Bearish)
Conclusion: 58-60 k is a very important level and reaction to this is critical!
In the past few days, we see red candles with long bodies and greater numbers in comparison to green candles which shows sellers overwhelm buyers!
consolidation between 58-69k could be the most probable case for a while!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor or a certified financial analyst or an economist or a CPA or an accountant or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Hourly Chart: Downward regression channel (Bearish)
Daily Chart seems to find support at 58500, closing below this level could push bitcoin down to 52K.
Weekly Chart: A candle with a long upper shadow followed by a bearish engulfing candle after a bullish rally is not a good sign! (Bearish)
Monthly Chart: Gravestone Doji..! (Bearish)
Conclusion: 58-60 k is a very important level and reaction to this is critical!
In the past few days, we see red candles with long bodies and greater numbers in comparison to green candles which shows sellers overwhelm buyers!
consolidation between 58-69k could be the most probable case for a while!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor or a certified financial analyst or an economist or a CPA or an accountant or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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