Bitacademyweb
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Bitacademyweb
BTC could visit the next support at $28,100 1. BTC losing support at $29,100 2. Trading volume is reduced as the price falls. The bears do not have enough strength, as long as BTC is above USD 28,100 3. Bullish guideline for 2023, close to reaching a price of USD 28,100 4. BTC could visit the next support at $28,100 1D graph
Bitacademyweb
1. The BTC price is losing a bullish channel, the high of which coincided with the third impulse wave, since it started the upward trend from January.2. This bullish channel coincides with the upper parallel of a trident. The price is breaking the bottom of the channel, which coincides with 0.328 on the upper side of the trident (in purple).3. BTC is testing strong support at 228,600. If the candle for this Thursday closes below the indicated bullish channel, it will have broken the pattern.4. The breakout occurred on high volume, so this breakout is valid.5. If BTC loses the support of 228,600 in the next few days, the price would attack the median of the trident, which could generate a panic sale. This would complete the fourth wave, which is correction. The target may be at $24,900.
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