Bitcoin's daily uptrend is at risk. BTC price has fallen down below trendline support, and is currently holding above the $46,000 to $43,000 support range.
Bullish scenario:
-BTC price finds and holds support above $43,000. Then bounces up to set a lower-high in the daily price trend.
-Resistances above: $47379, $50000, $53034, $55000, $60000.
Bearish scenario:
-BTC price falls below support and is rejected down under $43,000. Price would continue to seek a lower-low in the daily price trend.
-Supports below: $41220, $38493, $34555, $32344, $30000.
Note: On a long-term Weekly chart, if price holds above $30000 to $35000, a weekly higher-low in the price could be set.
Bullish scenario:
-BTC price finds and holds support above $43,000. Then bounces up to set a lower-high in the daily price trend.
-Resistances above: $47379, $50000, $53034, $55000, $60000.
Bearish scenario:
-BTC price falls below support and is rejected down under $43,000. Price would continue to seek a lower-low in the daily price trend.
-Supports below: $41220, $38493, $34555, $32344, $30000.
Note: On a long-term Weekly chart, if price holds above $30000 to $35000, a weekly higher-low in the price could be set.
Note
Update 09/19/2021:-A lower-high in the BTC price is currently being tested. Price is consolidating and Support levels are also being tested. If price drops and closes below $44,000, a new daily downtrend will begin.
Note
Comment: 10/03/21 to 10/08/21: -BTC/usdt (bitcoin): resistance tests, higher-low price potential.
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Follow Me on TradingView, Youtube, X, Instagram.
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All posts are not financial advice.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
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.