BTC is in new channel. small correction for short time!!!

2022년 8월 1일

Hello Everyone,

I hope you all have experienced volatility in previous week. i believe you must have ended up with some profit when Bitcoin touched 24500.

I have made some analysis right now about bitcoin and its movement. We can clearly see that Bitcoin is trading within this channel (in blue line). we may see Bitcoin at level of 22500 to 22000 in couple of days. Right now, as per the volume traded in last few days, level of 21000 to 21500 has very strong support.

Also, my Buy-Sell signal is indicating towards downtrend for sometime. (I calculate this with EMA CROSS; 8:21 & 25:50).

Weekly candle closing was above 200 Moving Average. It means, we may see good pump in upcoming days. So, be ready to buy the dip. i believe that we have seen the bottom.

Happy Trading.

PS: Like and share your thought in comment.