BITCOIN
In daily timeframe Chart, Bitcoin has been forming Descending Channel Pattern..
At the Moment, Bulls Facing 50k Crucial Resistance, if resistance got cleared, expecting bullish wave towards the 72k (new ATH ) in coming days.
In Bearish scenario, if Bulls failed to clear the resistance, Bitcoin might retest the 40k support area (MA128)
MA128 ( 40 .8k) Acting as key support, in late September, Bitcoin Bulls defended it well.
(In Worst Case, if Bitcoin Bulls lost this MA128, Bitcoin might retest the 27k Area in late October)
Since 30th July, RSI ( Relative Strength Index ) has been Moving Below the Trendline Resistance, If we break the RSI resistance things could heat up quite easily.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
In daily timeframe Chart, Bitcoin has been forming Descending Channel Pattern..
At the Moment, Bulls Facing 50k Crucial Resistance, if resistance got cleared, expecting bullish wave towards the 72k (new ATH ) in coming days.
In Bearish scenario, if Bulls failed to clear the resistance, Bitcoin might retest the 40k support area (MA128)
MA128 ( 40 .8k) Acting as key support, in late September, Bitcoin Bulls defended it well.
(In Worst Case, if Bitcoin Bulls lost this MA128, Bitcoin might retest the 27k Area in late October)
Since 30th July, RSI ( Relative Strength Index ) has been Moving Below the Trendline Resistance, If we break the RSI resistance things could heat up quite easily.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.