Bitcoin (BTC) Needs To Breakout This Channel Within 24hrs | It's A Do-Or-Die

 


Hi, dear friends hope you are well and welcome to the new update on Bitcoin (BTC).

 

Support and resistance levels:

On an hourly time frame, Bitcoin once again bounced from the support of $18736, and right now it is still moving between this support and $19500 resistance. Breaking out $19500 resistance is very important because this level has been working as strong resistance in Dec 2017, and Dec 2018 as well. Especially if we will have weekly closing below $19.5 then it can be more critical for BTC.

TradingView Chart

 

A channel and a triangle:

On the same hourly time frame, Bitcoin is still moving inside a channel, and also has formed a triangle at the end of the channel. If Bitcoin breaksout this channel before the closing of the weekly candle (almost the next 30hrs) then It can also move above the key support of $19500.

 

TradingView Chart

For a detailed analysis, you can also watch the video.


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