Hello, traders welcome to another BTC/USDT chart update.
It is clearly can observe that BTC is currently following the wick-off theory.
Here we can see that BTC was again unable to sustain the price level of $30400 and got rejected from the mid dotted trend line resistance.
BTC again left a wick after dropping to the price level of $29300. BTC needs to close above the green support zone.
If BTC follows the wick-off theory then this green zone will be the golden zone to enter the market, and BTC will pump from here and rally towards the price level of $32.5k.
BTC needs to break above this channel pattern which will be the turning point for BTC again to rally hard.
RSI also prints bullish divergence and follows the lower trend line and moves upward.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
It is clearly can observe that BTC is currently following the wick-off theory.
Here we can see that BTC was again unable to sustain the price level of $30400 and got rejected from the mid dotted trend line resistance.
BTC again left a wick after dropping to the price level of $29300. BTC needs to close above the green support zone.
If BTC follows the wick-off theory then this green zone will be the golden zone to enter the market, and BTC will pump from here and rally towards the price level of $32.5k.
BTC needs to break above this channel pattern which will be the turning point for BTC again to rally hard.
RSI also prints bullish divergence and follows the lower trend line and moves upward.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.
DO YOUR RESEARCH BEFORE MAKING ANY TRADES.
Thank you.
