Bitcoin (BTC) Once Again Moving Towards The Key Resistance

 


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

Short term support and resistance levels:

In an hourly time frame, after breaking out a down channel Bitcoin is still moving between support and resistance of $20000 to $20800 and could not breakout the resistance sofar.

TradingView Chart

 

Key resistance:

 

On a daily time frame, Bitcoin has formed a higher low, now if Bitcoin breaksout a key resistance of $21500, then it can be a major sign of bullish reversal move and then $21.5k will work as strong support as well.

TradingView Chart

 

An ascending triangle:

On a same daily time frame, Bitcoin is also forming an untrendline support and the combination of horizontal resistance of $21.5k. Now it is possible that the movement will be squeezed and it will behave like an ascending triangle and then break out the resistance.

TradingView Chart

 


For a detailed analysis, you can watch the video.


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