BTC - Testing the support line at 3600
Hello all,
Here is the chart of yesterday :
Here is the current chart :
We are currently testing the support line at 3600$. This is an important support line because if we break it, the current short term trend will go from Bullish to Bearish. There is also big chances that if we break it, we are going to make new lows so let's hope that line will hold us.
I wish you massive profits,
Cryptopassion.io
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Bitcoin is on a 1D Inverse Head and Shoulders pattern, with the short term trend currently neutral within a rather wide neckline ( RSI = 46.660, ADX = 38.650, CCI = 25.6070, Highs/Lows = 0.0000). Typically this is a medium term reversal pattern and since the long term trend has been bearish , the price should technically test at least the neckline's Resistance at 4,384 with the 0.382 1D Fibonacci retracement level at 4,463.10 still a solid long TP. The support zone is at 3,548.50 - 3,652.10 and below this level the price resumes the bearish trend towards 3,200 and 2,800 in extension. If BTC crosses the 0.500 Fibonacci level (4,850) then it will attract more retail buyers and we can start considering a more sustainable bullish reversal.
what do u think about it?
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Nice TA, just a little bit too much technical and complex for most of the people here.
Next time at least ask if it is ok that you do your advertisement on my publications.. some people would have already downvoted you for that... specially when you come only for that and don't even upvote this post.