When will the rising beam of Russia and Ukraine end?#Bitcoin #4 hour #Binance #Tommy
- 4 hours of Bitcoin. BTC broke the blue downtrend channel upwards on 3/1, but BTC re-entered the channel again without showing any retest support at the top.
- Since then, BTC is moving towards lower highs and lower lows with resistance from the black inward trend line. In the case of a break above this intrinsic trend line, I think the upper part of the widening pattern and the upper part of the blue downtrend channel overlap the resistance zone.
- The corresponding resistance section is 40 .5k~41.1k, and it is a section that we are paying attention to as it is located at pre-LVP , 200 EMA of 4 hour, and black rising channel EQ. If BTC reaches it before 3/9 21:00, you can respond with a sell position, but if BTC successfully break through that section, additional buying may occur.
- The additional resistance section we are looking at is 42.8k-43.5k, where several LVP, the 0.705-0.786 retracement of the downtrend, and the short-term upside channel retest overlap.
- One part of concern is that, like the image above, these days, Expanding triangle patterns often appear. In the current situation, if BTC cannot successfully break through the trend line and go to lower the low once again, there is a high possibility that BTC will flow into a similar state to the 2/20~2/24 down wave.
- 34.9k~35.5k, the 1st support section, where the lower triangle (lower widening), green short-term downtrend line retest, pre-LVP, black uptrend channel bottom, and 1.13~1.272 stop-hunting extension level of the uptrend pass at the same time It is under consideration and is valid until 3/12 19:00.
- If this support line breaks, it is likely to show that the second support section, 32.2k~32.8k is open. Reaching this far means that the 32.9k, which is the major bottom, has been breached, so if there is no significant rebound, it is better to respond while clearing the volume (split stop loss)
