[Bitcoin] When is Bitcoin going to check $37K?
#crack #bitcoin #binance #Daily
- It looks like Bitcoin has turned to a bearish trend after continuing failure to break out the
42K resistance.
- During the bear trend, after failing to support the $39530.45 support line, it is converted into resistance and the bearish trend is in progress again.
- If you look at the 'widening pattern' of lowering lows and raising highs, you should also consider the possibility of a rebound since the lows were lowered.
- If a rebound occurs at 37k-37.7k, where the lower orange bull trend channel is located, it is possible to buy aggressively, but keep in mind the possibility of a further decline to confirm the $35071 support.
- The $35071.42 is a support line for the closing price of the daily peak formed at the end of January. In the larger view, it was formed by an inflection section of 34.2k-34.6k, and is a very important support area as it is also the area where the lower end of the long-term bull trend channel is located.
- In the event of a decline towards $35071.42, keeping the $34322.28 low is important for further bull trend.
- If support is successful in the 37k-37.7k support zone and rebounds, we recommend that you respond by checking whether the $39530.45 resistance is broken or not. If the $39530.45 resistance is not broken, it is highly likely that a bear trend will appear for the continued downward break of the 37k support area.
- It looks like Bitcoin has turned to a bearish trend after continuing failure to break out the
42K resistance.- During the bear trend, after failing to support the $39530.45 support line, it is converted into resistance and the bearish trend is in progress again.
- If you look at the 'widening pattern' of lowering lows and raising highs, you should also consider the possibility of a rebound since the lows were lowered.
- If a rebound occurs at 37k-37.7k, where the lower orange bull trend channel is located, it is possible to buy aggressively, but keep in mind the possibility of a further decline to confirm the $35071 support.
- The $35071.42 is a support line for the closing price of the daily peak formed at the end of January. In the larger view, it was formed by an inflection section of 34.2k-34.6k, and is a very important support area as it is also the area where the lower end of the long-term bull trend channel is located.
- In the event of a decline towards $35071.42, keeping the $34322.28 low is important for further bull trend.
- If support is successful in the 37k-37.7k support zone and rebounds, we recommend that you respond by checking whether the $39530.45 resistance is broken or not. If the $39530.45 resistance is not broken, it is highly likely that a bear trend will appear for the continued downward break of the 37k support area.
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