After hitting the daily resistance, and also ending the trend in the daily time period, we see the price hitting the floor of the channel of the 1-hour time frame, more than 2 times.
After breaking the lower support line of the channel, a drop with price targets up to $1,500 can be expected.
In the 4-hour time frame, the bottom of the major ascending channel is in the price range of $1,550, which is the main and final target of the fall in the next 24 hours.
Then, after breaking the support of the 4-hour channel, it hits at least $1,500.
The completion of this scenario causes a downward trend and the formation of a continuation of the long-term downward trend in the daily charts.
To enter a sell trade, the best area is below the lowest price in the 1-hour and 2-hour candles in the past 6 hours, around $1707
And keep in mind that Bitcoin price uses the same scenario to drop the price, which causes the coins to drop more.
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Dear friends, request any cryptocurrency pair, currencies pair for forex, and any index that you want to be analyzed and ask any questions.
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After breaking the lower support line of the channel, a drop with price targets up to $1,500 can be expected.
In the 4-hour time frame, the bottom of the major ascending channel is in the price range of $1,550, which is the main and final target of the fall in the next 24 hours.
Then, after breaking the support of the 4-hour channel, it hits at least $1,500.
The completion of this scenario causes a downward trend and the formation of a continuation of the long-term downward trend in the daily charts.
To enter a sell trade, the best area is below the lowest price in the 1-hour and 2-hour candles in the past 6 hours, around $1707
And keep in mind that Bitcoin price uses the same scenario to drop the price, which causes the coins to drop more.
---------------------------------------------------------------
Please write any advice or suggestions.
Dear friends, request any cryptocurrency pair, currencies pair for forex, and any index that you want to be analyzed and ask any questions.
Thanks for your attention