Technical analysis by Transcend27 about Symbol BTC: Buy recommendation (9/18/2023)

Description: Current BTC/USDT price: 26,650 USDT (Daily Chart) Daily Resistance Levels: 26,600, 27,670, 29,670 Weekly Resistance Range: 31,500 - 31,900 Monthly Resistance Range: 37,500 - 39,500 4-Hour Support: 26,220 1-Hour Support: 25,840 Analysis: From my previous idea, the price successfully bounced from the 25125-24850 daily support. This means that the bulls have found their reversal level and ready to make another higher high in the daily TF. Here are the key scenarios - A daily candle close above 26,600 could signal a potential upward move towards 27,670. - If momentum remains strong, the weekly resistance range of 31,500 - 31,900 could come into play. - A breakthrough above the weekly resistance might lead to a test of the monthly resistance range from 37,500 to 39,500. - However, if the price fails to breach 26,600, a decline may occur, possibly reaching the 4-hour support at 26,220 and further down to the 1-hour support at 25,840. Please ensure you keep monitoring the price action and adjust your strategy accordingly. Use confluences like Rsi, candlestick patterns or chart patterns before entries.