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BTCUSDT BinanceBTCUSDT Binance 4H hollow candlesticks A descending parallel Channel has been formed, after the ATH (all-time high) at 110165$. We can expect a price correction about 67338$ that is exactly the red line, as also the price drops to 62,000 and a flash a wick to 52 -53,000$. The bar pattern (flipped fractal) has been formed from a previous movement, indicates a future price movement. We can also see the current Support and Resistance areas. Market Cap: $2.75T +0.42% 24h Vol: $48.68B -30.46% Dominance: BTC: +60.5% ETH: +8.7% Good Luck #CryptoHellas Team
by CryptoHellas
BTC/USDT BinanceBTC/USDT Binance 4H hollow candlesticks Fibonacci Retracement Extension shows our main Resistance area. The Bar Pattern fractal shows possible price movement. So IF Price breaks out of: 1. Fibonacci channel Golden Ratio downtrend diagonal line. 2. Trend-Based Fibonacci Extension. 3. Support & Resistance levels. A New TA is needed. Low Volume. Building Stable Support • Transaction history shows that Bitcoin has formed a stable support floor. Roughly 1,350,194 addresses acquired more than 926,620 BTC at an average price of $29,814.67. • Bitcoin would have a great chance of rebounding as long as it is able to hold above $29,814.67 because on-chain data reveals no significant resistance ahead. The most considerable supply wall sits around $34,434.10 where 386,280 addresses hold over 243,403 BTC. Bitcoin at Crossroads • At about $30,284.00 on Sunday, May 22nd, Bitcoin continues to consolidate within a tight price range. • From a technical perspective, a death cross between the 50- and 200-day moving averages developed on BTC’s three-day chart. Such a bearish formation suggests that despite the probability of a rebound, the gains could be limited to $38,531.60 as Bitcoin’s price grows weaker. A decisive close below $26,828.20 can result in a downswing to $20,732.70. • On Binance Futures, the BTC/USDT Long/Short Ratio hit 1.91 on May 22nd. Traders remain optimistic about the future price action, as 65.85% of all accounts with an opened position in Bitcoin are net-long. Bitcoin Price (BTC) = $29,757.43 +1.07% 15.19 ETH +1.57% Market Cap: $1,266,900,739,826 24h Vol: $71,292,103,641 Dominance: BTC: 44.8% ETH: 18.7% Good Luck #CryptoHellas Team
by CryptoHellas