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#BTCUSDT 1D (Daily) #ANALYSIS
Hello #Kryptos 👋 It's been a while since I posted and I wanted to share what Im currently following.
I see #LaTóxica is inside a Descending Channel, usually it's bullish. However you can also see a Rising Wedge (bearish pattern) developing in the immediate current price. In the 4 hour time-frame theres bearish divergence so its aiding the price drop.
Unless bulls can breakout from .618 fib ($94,254) there's a high chance the price will reach the bottom line of the channel. Which I prefer, since there's a chance for bullish divergence being created in the Daily time-frame, it will be point c touch and could be extremely bullish :).
But let's take it step by step, we have .786 fib support below and $90K support is holding, for now.
I'll update later. Stay safe and good luck #Kryptos.
Hello #Kryptos 👋 It's been a while since I posted and I wanted to share what Im currently following.
I see #LaTóxica is inside a Descending Channel, usually it's bullish. However you can also see a Rising Wedge (bearish pattern) developing in the immediate current price. In the 4 hour time-frame theres bearish divergence so its aiding the price drop.
Unless bulls can breakout from .618 fib ($94,254) there's a high chance the price will reach the bottom line of the channel. Which I prefer, since there's a chance for bullish divergence being created in the Daily time-frame, it will be point c touch and could be extremely bullish :).
But let's take it step by step, we have .786 fib support below and $90K support is holding, for now.
I'll update later. Stay safe and good luck #Kryptos.
👍1
KryptoMX
#BTCUSDT 1D (Daily) #ANALYSIS Hello #Kryptos 👋 It's been a while since I posted and I wanted to share what Im currently following. I see #LaTóxica is inside a Descending Channel, usually it's bullish. However you can also see a Rising Wedge (bearish pattern)…
#BTCUSDT 1D (Daily) #UPDATE
Hello #Kryptos, BTC hasn't been able to conquer the resistance lines above, i cluding $92,690. As you can see its experiencing a strong rejection and the price is once again at the $90K support.
Be careful because the price has reached the support several times and it means it's weakening.
It's Friday and into weekend market, so have your notifications up and keep an eye on those fibs.
Ill update later, stay safe and good luck #Kryptos
Hello #Kryptos, BTC hasn't been able to conquer the resistance lines above, i cluding $92,690. As you can see its experiencing a strong rejection and the price is once again at the $90K support.
Be careful because the price has reached the support several times and it means it's weakening.
It's Friday and into weekend market, so have your notifications up and keep an eye on those fibs.
Ill update later, stay safe and good luck #Kryptos
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