BTC/USDT weekly chart.
The BTC/USDT weekly chart shows a potential flag pattern formation, which could signal a continuation of the previous bullish trend if BTC moves upwards.
The price is consolidating within a descending parallel channel, which is typical for flag patterns after strong upward movements. This could signal a potential continuation if BTC breaks above the channel.
The green area around $39,000 – $43,000 remains a crucial support level, providing a base to hold if BTC retreats.
The yellow moving averages provide guidance and may align with BTC’s upward trend if it stays above the channel.
If BTC successfully breaks above the upper boundary of the flag, it could resume its upward trajectory, potentially targeting the next resistance levels. However, if it fails to break out, a retreat to lower support levels is likely.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
You can DM us for information on any other coin.
@Peter_CSAdmin
The price is consolidating within a descending parallel channel, which is typical for flag patterns after strong upward movements. This could signal a potential continuation if BTC breaks above the channel.
The green area around $39,000 – $43,000 remains a crucial support level, providing a base to hold if BTC retreats.
The yellow moving averages provide guidance and may align with BTC’s upward trend if it stays above the channel.
If BTC successfully breaks above the upper boundary of the flag, it could resume its upward trajectory, potentially targeting the next resistance levels. However, if it fails to break out, a retreat to lower support levels is likely.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
You can DM us for information on any other coin.
@Peter_CSAdmin
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