BTC $BTC, weekly level top formation, the bearish line volume has increased in the last two weeks, and the weekly MACD has crossed down showing signs of a death cross. The low point of yesterday's long wick candle was 110400+, which I believe is a very critical position. If it breaks down again with an entity, then the weekly will directly run to the previous consolidation range, and the next rebound's low and high points will be lowered simultaneously, which means that the possibility of rebounding to 118-12 becomes very small.
However, it has not fallen below yet, there is still hope. Looking at the four-hour chart, yesterday's long wick candle position is the previous rising position, providing support. The intraday support is in the 11.1W-11.15W range, and the resistance is at 11.14W. #BTC
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
BTC $BTC, weekly level top formation, the bearish line volume has increased in the last two weeks, and the weekly MACD has crossed down showing signs of a death cross. The low point of yesterday's long wick candle was 110400+, which I believe is a very critical position. If it breaks down again with an entity, then the weekly will directly run to the previous consolidation range, and the next rebound's low and high points will be lowered simultaneously, which means that the possibility of rebounding to 118-12 becomes very small.
However, it has not fallen below yet, there is still hope. Looking at the four-hour chart, yesterday's long wick candle position is the previous rising position, providing support. The intraday support is in the 11.1W-11.15W range, and the resistance is at 11.14W.
#BTC