BTC has been unsuccessful in testing around 20,000 many times. One of them broke through, but soon fell back below 20,000 due to selling pressure. After a small recovery, a large candlestick appeared, which fell directly below the trendline support.
The current price is in the support range of 18870.65~18610.57.
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If the price comes to the strong support range of 17149.43~17580.00, BTC has a chance to reverse the trend, because the weekly line (right picture) has a pin bar here, followed by a large increase. (This range is a strong support formed by strong buying pressure).
But, if the price falls below this support zone, this position becomes a strong resistance. The price of BTC will continue to decline.
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The current price is in the support range of 18870.65~18610.57.
-
If the price comes to the strong support range of 17149.43~17580.00, BTC has a chance to reverse the trend, because the weekly line (right picture) has a pin bar here, followed by a large increase. (This range is a strong support formed by strong buying pressure).
But, if the price falls below this support zone, this position becomes a strong resistance. The price of BTC will continue to decline.
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