Bitcoin: Bearish channel output and back on the MA100!

Bitcoin has finally left its bearish channel! A compression figure has taken over the level of dynamic resistance. The output is not yet fully confirmed.

Bitcoin


Highlight Keys

  • Bullish signals 
  • Channel output

Bitcoin finally shows signs of a return to the upside, the bearish channel has been left, a return to USD 7000 seems likely.

Our analysis are entirely done on Binance charts

The pivot at 6000 USDT pushed back the sellers and allowed the buyers to leave the bearish channel we had been following for several weeks. A return to the rise is possible. If the movement is confirmed, we should reach the Target at 7700 USD corresponding to the dynamic resistance of the compression figure. Nevertheless, bitcoin still has to pass the resistance at 6500 and the pivot 6800 USD to confirm the channel output and the new trend. The signals lean in favor of buyers, the latest news also, like Facebook that accepts again advertisements for crypto.

Comment se positionner ? 

Bitcoin has left its bearish channel, however, the move is not fully confirmed, buyers are struggling to stay on the MA100. It will be necessary to wait for a breakout of the resistance at 6500 USD to take position towards 6800, then 7700 USD.

Should we expect a new correction?

It seems that no. We have just left our bearish pattern. However, if we re-enter our downtrend channel, the correction will resume, better wait for the passage of 6500 USD to take position.

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Key levels  : 

  • Essentials resistances :  6500 – 6800
  • Essentials supports :  6000 – 6200 

 

 

 

 

 

 

 

 


Disclaimer: This blog is only the showcase of my work. I expose to you all my personal analyzes, my personal trades, my personal investment decisions, or the positions that I judge good without taking them myself. We do not offer any investment advice and they are not trading instructions. Nevertheless, you are free to copy my judgments if you judge my work satisfactory

It is important to note and understand that cryptocurrency trading carries serious risks. You can lose capital, see more on some platforms. Take this into account and moderate your investment decisions. Never invest money that you can not afford to lose!

Reminder: The analyzes on the page cover a period of 12 to 48 hours and are optimized for Day Trading and not the long position. We give our long positions on our youtube channel.

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