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.

After reaching ~31500$ quickly, it also fell quickly. The resistance cloud at 31000$ has been historically strong. So when it fell through that line, it became harder for BTC to break through that line again. It tapped that level three times after that. But sadly, none of those attempts were successful.

In the last week, the was pretty stable than the previous weeks. It stayed between 30000$ to 31000$. The price fluctuated a lot in this range. When it breaks through the upper level or lower level, the volatility will increase.

The support is also strong at 30000$ level. But what it seems like is that BTC is good as long as it doesn't fall through 29500$. BTC fell suddenly to that level on 30 June, but came back within a short time. This proves the validaty of this support level. BTC also bounced from 30000$ three times.

The trendline shown above seems like an important one to me. Whenever BTC fell through this trendline line, there was a big red candle. BTC may head towards this trendline and if we can break it again, I think we can also break the 31000$ resistance level in the meantime.

All Screenshots are taken from Binance

Nobody knows what's coming next. My prediction last week was that BTC would be fluctuating in the 29900$-31000$ zone for a while. Seems like it became true. Now it is a do or die situation. If we go through the 31000$ zone, there will be a completely new set of possibilities. However, falling through 29500$ would be bad.

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.