On the 1D chart for BTC, we can see there was major support at the $40,899 level. This coincided perfectly with our trendline support AND our Moon signal on the RSVP Extractor.
You can also see a descending wedge pattern forming (which is extremely bullish if Bitcoin can break the trendline at $45,000). This has been a major resistance level for BTC and if it can break it, I can see us climbing back to $53,000. If Bitcoin can't break that $45,000 level, I see us retesting the $40,899 level and looking to bounce form the trend support of $38,000 or further down to $29,953.
Please DM me or comment below if you had any questions about the technical analysis above or the indicators used :)
You can also see a descending wedge pattern forming (which is extremely bullish if Bitcoin can break the trendline at $45,000). This has been a major resistance level for BTC and if it can break it, I can see us climbing back to $53,000. If Bitcoin can't break that $45,000 level, I see us retesting the $40,899 level and looking to bounce form the trend support of $38,000 or further down to $29,953.
Please DM me or comment below if you had any questions about the technical analysis above or the indicators used :)
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