Bitcoin should hold this support zone!
Hi guys, As always I'm publishing a new analysis on the BTC chart because of its important and critical situation at the moment.
As you can see Bitcoin is at the bottom of this important uptrend channel and therefore I expect to see a bounce from this area.
We had seen a little support in last day's candle which was not powerful. At this moment I'm waiting to see today's candle to forecast more accurate
On a larger view, We had a breakout of the downtrend channel on 4th February and we saw a perfect retest from 21st to 24th February. This is why we went up a little during the March and after
the previous strong downtrend.
Now, I'm not looking at the bottom of the channel to be saved. I'm looking at the $37,000 strong support. If this support can be held by bulls, It's possible to see another uptrend up to new local ATH(Above $48,000).
Also, keep in mind a clear breakout of the $37,000 support zone will cause a drop up to $33,000 as a major support zone.
In short, Don't decide emotionally and wait to see what will happen for this current static support, Bitcoin can go upper in my idea if This support zone can be held by bulls.
As you can see Bitcoin is at the bottom of this important uptrend channel and therefore I expect to see a bounce from this area.
We had seen a little support in last day's candle which was not powerful. At this moment I'm waiting to see today's candle to forecast more accurate
On a larger view, We had a breakout of the downtrend channel on 4th February and we saw a perfect retest from 21st to 24th February. This is why we went up a little during the March and after
the previous strong downtrend.
Now, I'm not looking at the bottom of the channel to be saved. I'm looking at the $37,000 strong support. If this support can be held by bulls, It's possible to see another uptrend up to new local ATH(Above $48,000).
Also, keep in mind a clear breakout of the $37,000 support zone will cause a drop up to $33,000 as a major support zone.
In short, Don't decide emotionally and wait to see what will happen for this current static support, Bitcoin can go upper in my idea if This support zone can be held by bulls.
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