Moving Charts: BTC Value Per Coin Analysis | 10% To @tron-fan-club

arsalaan (76)in Tron Fan Club • last year

Hello everyone and welcome to everyone at Tron Fan Club. The market has once again risen and now very volatile than ever before. Maybe this is the time we can the market "bullish". Let's dive into the analysis.

The starting of last week was slow. But it soon turned into one of the most volatile week. Falling suddenly to 29500$, BTC bounced back in almost an instant. Then it remained pretty stable for two days and gained a little value. After that, the most anticipated move came from BTC, it broke through 31000$. But sadly it couldn't get through the resistance cloud and got stuck at 31300$.

Being rejected, BTC started falling off. Following the bearish trendline, it got to sub 30000$ level. But in the way, it took a jump and went to 31300$ very swiftly, the rejection was also strong. This double-top situation pulled BTC to 30000$.

Now it is very much clear that without crossing 31300$, BTC can never be safe. This resistance block has historically been a crucial level. BTC bounced off from this level several times during the bull market. So it is not strange that this level is so hard to pass through.

If we start looking at the support level, 29800$ seems like an important one. The one has been holding off for quite some time. The support line and the bearish trendline also intersect each other at this level. We also bounced from the support block several times.

All Screenshots are taken from Binance

Nobody knows what's coming next. My prediction is that BTC might fall to 29500$-29800$ level again and bounce back, maybe for the last time. If I'm wrong and BTC fall through the support level, we may get some big red candles. We are good as long as we are above this level.

Market is very volatile right now as it has always been. So, if you are investing or trading, be always cautious. No words from this article should be taken as financial advice.