Hi friends hope you are well, and welcome to the new update on Bitcoin (BTC)
Another rejection:
In an hourly time frame, after breaking out the channel Bitcoin 1st was rejected by $23k resistance and after re-testing the resistance of the channel as support now it is rejected by $21360 resistance and dropped to $20800 support.
Expected buying signal:
On a weekly time frame, BTC is testing the 200 weekly simple moving average support. Now if we take a look at MACD, then it is strong bearish, but if MACD turns weak bearish from here then it can be another historical buying signal, because, MACD has already given such buying signals in 2015, 2018, and 2020 as well.
You can watch the video for a detailed analysis.
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You can also support my work at Patreon for more ideas:
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To check the Patreon trade success testimony, you can watch this pinned post:
https://www.patreon.com/posts/63774800
In order to play and watch the current performance of the chart you need at least a free account on tradingview:
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Link for Binance exchange, to trade crypto:
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Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
▶️ 3Speak
