BTCUSDT- are you expecting a price increase?Good day to all crypto fans!
What is happening now with the price of MTC, let's analyze?
The BTC price corrected from a low of its fall to a maximum of 84.31% according to the Binance exchange. Not reaching the 7135 level quite a bit, at the maximum, the BTC price was 6957. A strong resistance level since 2018. Marked on the chart. The next level is 7934. The level of standard BTC correction, according to historical data or 0.618 Fibonacci, coincides with the peak of the wedge in which the price moves. Most likely the price from the rising wedge goes down.
And the question is whether the price will reach this level before the correction?
Binance exchange limit orders do not expect prices above the level of 7135, and Bitfinex limit orders exceed 7934.
As you can see on the chart, the price moves in a downward channel, in the upper part it goes down from a locally upward channel. Upon exiting the wedge, the price will be adjusted to the level of 5840 or the average channel border is indicated on the chart. The so-called "refueling", which does not cancel the further movement to the level of 7934, or the upper boundary of the downward channel.
A divergence formed, marked on the chart. But nothing prevents making a triple divergence, which will be even stronger than the current one.
Most likely, the price will reach the level of 7934.
While there is a beautiful rebound - the correction from the fall of the stock market I see nothing impossible in that, without volumes, to reach BTC even higher. And there everyone will expect the closing of the huge gap and the development of the “Cup with Handle” pattern, and then, the price, together with the stock market, will fly down. But this is likely to be in April. Before the very poor reporting that everyone will expect.
A scenario with possible growth should be considered only with the surf and consolidation above the level of 7135.
Thanks to all my subscribers and readers for your attention!🙏
Success and profit!🤑
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Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
