[Bitcoin] 19K support is solid?? It's still too early to assume

14 Tem 2022

#Crack #Bitcoin #Binance #1D

The support in the $19,828-$19,118 section, which was mentioned as very important in the previous briefing, succeeded, and it held the previous candlestick along with a buying trend, showing the possibility of a rebound.

However, it can still be viewed as an extension of triangular convergence or an extension of a bull trend, and contains the possibility of continuing the bear trend.

Since the short-term high has not yet been renewed, the expected support section is the same when the bear trend continues, but the expected resistance section has changed.

As in the previous briefing, you can draw two rising channels.


In the first case, a large bullish channel can be drawn, and in this case, the resistance near $22,175, where the center line of the bullish channel and the top of the convergence overlap which plays an important role.

However, if the overshooting appears in the $23,240-$23,880 section and then the $22,175 section is supported, we can expect a short-term rise to the upper end of the channel.

s3.tradingview.com/snapshots/m/mKAeJtQ3.png
In the second case, a small bull trend channel can be drawn. In this case, the resistance in the $22,580-$23,360 section, where the bull trend and the bull trend channel overlapped on June 13th, which plays an important role, The possibility of overshooting is shown until $24,190, where the long-term trend line and short-term Fibonacci level are located.

Even in this case, if support is provided after breaking out the $22,580-$23,360 range, we can expect a short-term bull trend to the mid- to long-term Fibonacci level of $25,890.


- Summary

Support Section
$19,828-$19,118 Important
$15,508-$15,139
$12,107-$10,909 Important
$7,750 overshooting level

Resistance section Case 1
$22,175 Important
$23,240-$23,880 Overshooting Level

Resistance section Case 2
$22,580-$23,360 Important
$24,190 Overshooting Level