BTC price had broken through the horizontal resistance (red rectangle) and currently consolidating around its long-term resistance line (blue rectangle). Rejection from this zone is quite possible so it can retest the next support level which is the 18K-15K zone (red rectangle).
A bump below 14K zone will be bearish for BTC.
BTC in the sting of long-term horizontal resistance and the neckline of the double bottom. A breakthrough from this zone would be an excellent sign that suggests the market has the strength the go upwards.
$70 zone is a heavy resistance zone for Ilv as long-term horizontal trend rejection and double bottom neckline lays in the $70 zone. A lift from this zone would be an excellent sign since it may suggest the market has the strength to go upwards.
The triangle breakout I have indicated in my earlier analysis of Gala worked out nicely and the market has been going down even since. Whoever went short with gala at 0.18 would have reaped profits by now. These are great times for long-term holders to buy and keep for 5 odd years.
As indicated in the red trend line BTC has bounced back from the said trend. Next major support levels
at 34K zone (Blue trend line)
at 30K zone (Yellow trend line)
at 29K (Purple trend line)
If the red trend line is not supported this may suggest a bear market.
BTC has been making this pattern of making fake wicks below 38K zone for the past two months. This could be one of those fake wicks. However, this could be a good time to keep your USDT and inspect the market rather than trading as the market is uncertain atm.
Token has already been on its way down after breaking one of its major support zones (H&S) as it sits on the edge of the triangle pattern now. Must be cautious as if the support is not respected price could fall to its next major support zones at $0.16 and $0.14 which would be great buy zones for the long term (5 years) holders.
Whenever SMMA and WMA lines cross in the one-day time frame BTC has begun rallying. We are about to find out will this trend continues as both the indicators are about to meet once again!!!
Gala is testing a long-run trend line atm. Also, the head and shoulder breakout is also a possibility at this point. If Gala can respect this support we can look for a rally, otherwise, a major drop in price is evident.
