Bitcoin decline after completion of pullback(1-hour time frame)
Hi everyone👋(Reading time less than 2 minutes⏰).
First, I recommend you look at the 4-hour Bitcoin chart I shared yesterday.👇
Bitcoin started to decline after contacting the upper line of the rectangle pattern; the first support in front of Bitcoin was the uptrend line.
Bitcoin managed to break the uptrend line (as I expected in yesterday's post) and started to go down and managed to break the 🟢support zone($30,700-$30,560)🟢 a few hours ago.
Bitcoin is currently completing a pullback to the broken 🟢support zone($30,700-$30,560)🟢.
Also, the 20 Simple Moving Average (20-SMA) went below the 60-SMA, which is a sell signal, and the resistance in front of the Bitcoin are 20-SMA and downtrend line, which has reacted well to this extreme move in the previous two minor pivots.
🔔I expect Bitcoin to fall to at least the 🟢support zone($29,860-$29,420)🟢 and the bottom of the rectangle pattern.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
First, I recommend you look at the 4-hour Bitcoin chart I shared yesterday.👇
Bitcoin started to decline after contacting the upper line of the rectangle pattern; the first support in front of Bitcoin was the uptrend line.
Bitcoin managed to break the uptrend line (as I expected in yesterday's post) and started to go down and managed to break the 🟢support zone($30,700-$30,560)🟢 a few hours ago.
Bitcoin is currently completing a pullback to the broken 🟢support zone($30,700-$30,560)🟢.
Also, the 20 Simple Moving Average (20-SMA) went below the 60-SMA, which is a sell signal, and the resistance in front of the Bitcoin are 20-SMA and downtrend line, which has reacted well to this extreme move in the previous two minor pivots.
🔔I expect Bitcoin to fall to at least the 🟢support zone($29,860-$29,420)🟢 and the bottom of the rectangle pattern.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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