BTC - Daily Chart ✅
Let's see how BTC is behaving.
This is a 1H chart. (Valid for 24 hours)
The Fib retracement shows that the price got rejected by resistance and then landed on support. It's consolidating in a side-way channel for now.
Support levels: $40800 - $42600
Resistance Area: $44200 - $45800
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing BUY volumes for BTC.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $43668
Let me know your ideas.
Good luck.
This is a 1H chart. (Valid for 24 hours)
The Fib retracement shows that the price got rejected by resistance and then landed on support. It's consolidating in a side-way channel for now.
Support levels: $40800 - $42600
Resistance Area: $44200 - $45800
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing BUY volumes for BTC.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $43668
Let me know your ideas.
Good luck.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.