Bitcoin / TetherUSShort
Btcusd → a scalp one
hello guys...
Technical Analysis
The chart provided is a 15-minute price chart for Bitcoin (BTC/USDT) on Binance. Here's a breakdown of the technical analysis:
1. Rising Wedge Pattern:
- The price has formed a rising wedge pattern, which is typically a bearish reversal pattern. This pattern occurs when the price is making higher highs and higher lows, but the upward momentum is weakening.
- The wedge has been broken to the downside, indicating that the bearish reversal is in play.
2. Support and Resistance Levels:
- Support Level: The chart shows a horizontal support level of around 53,454.58 USDT. This level is likely the next target for the price, as indicated by the downward arrow.
- Resistance Zone: A yellow box highlights a resistance area around 55,800 - 56,100 USDT where the price had previously consolidated before breaking down.
3. Price Action:
- After breaking out of the wedge to the downside, the price attempted to retest the support-turned-resistance zone but failed to break back above it.
- The failure at the resistance zone strengthens the bearish outlook, suggesting that sellers are in control.
4. Projection:
- The chart suggests that the price is likely to continue its downward movement towards the support level at 53,454.58 USDT.
- If this support breaks, further downside could be expected, but this level might also act as a potential bounce area.
Summary in Bullet Points
- Bearish Pattern: The chart shows a rising wedge pattern, which has broken down, indicating a bearish reversal.
- Resistance Zone: Price faces resistance around 55,800 - 56,100 USDT after the breakdown.
- Support Level: The next key support level is at 53,454.58 USDT.
- Bearish Outlook: The price is likely to move down towards the support level, with potential further downside if the support fails to hold.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Technical Analysis
The chart provided is a 15-minute price chart for Bitcoin (BTC/USDT) on Binance. Here's a breakdown of the technical analysis:
1. Rising Wedge Pattern:
- The price has formed a rising wedge pattern, which is typically a bearish reversal pattern. This pattern occurs when the price is making higher highs and higher lows, but the upward momentum is weakening.
- The wedge has been broken to the downside, indicating that the bearish reversal is in play.
2. Support and Resistance Levels:
- Support Level: The chart shows a horizontal support level of around 53,454.58 USDT. This level is likely the next target for the price, as indicated by the downward arrow.
- Resistance Zone: A yellow box highlights a resistance area around 55,800 - 56,100 USDT where the price had previously consolidated before breaking down.
3. Price Action:
- After breaking out of the wedge to the downside, the price attempted to retest the support-turned-resistance zone but failed to break back above it.
- The failure at the resistance zone strengthens the bearish outlook, suggesting that sellers are in control.
4. Projection:
- The chart suggests that the price is likely to continue its downward movement towards the support level at 53,454.58 USDT.
- If this support breaks, further downside could be expected, but this level might also act as a potential bounce area.
Summary in Bullet Points
- Bearish Pattern: The chart shows a rising wedge pattern, which has broken down, indicating a bearish reversal.
- Resistance Zone: Price faces resistance around 55,800 - 56,100 USDT after the breakdown.
- Support Level: The next key support level is at 53,454.58 USDT.
- Bearish Outlook: The price is likely to move down towards the support level, with potential further downside if the support fails to hold.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
👉 my broker:: bit.ly/HYMCMELI
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.