Hello everyone, I invite you to update the situation of BTC on a one-day interval. As we can see, the market woke up and the price went above the downtrend line.
We could see the formation of a rounding bottom pattern, which is characterized by the effect of breaking the resistance level and increasing the price, which we can also observe.
Now it's worth checking where btc is going next. Using the Fib Retracement tool, we can check the current resistances that the price has to face. And here we can immediately see that we are at a crucial moment at the resistance level of $19190, and also at 0.618 Fib, which is called the Fib golden point. We can see that the price is testing the current resistance, which may provide some respite before further upward movement, near the resistance at $20179 and then $21486.
Once the current resistance level is pushed back and the price begins to fall, we can establish support at $18,456, then $17,882, and a strong support zone from $17,435 to $16,271.
As we can see on the CHOP index, the energy has been used for the current upward movement, the MACD confirms the upward trend, while the RSI indicator moves above the upper range, in a place where we often had a feedback reaction and price correction, but it does not mean that we will not see another upward movement .
We could see the formation of a rounding bottom pattern, which is characterized by the effect of breaking the resistance level and increasing the price, which we can also observe.
Now it's worth checking where btc is going next. Using the Fib Retracement tool, we can check the current resistances that the price has to face. And here we can immediately see that we are at a crucial moment at the resistance level of $19190, and also at 0.618 Fib, which is called the Fib golden point. We can see that the price is testing the current resistance, which may provide some respite before further upward movement, near the resistance at $20179 and then $21486.
Once the current resistance level is pushed back and the price begins to fall, we can establish support at $18,456, then $17,882, and a strong support zone from $17,435 to $16,271.
As we can see on the CHOP index, the energy has been used for the current upward movement, the MACD confirms the upward trend, while the RSI indicator moves above the upper range, in a place where we often had a feedback reaction and price correction, but it does not mean that we will not see another upward movement .