Posts

Trendline Discovery with Bitcoin Price

avatar of @scaredycatguide
25
@scaredycatguide
·
·
0 views
·
1 min read

With this chart of daily bitcoin price I decided to clear off all lines outside of potential support areas.

Is Price Creating a New Support...

34K making a presence, maybe...

Looking at the chart you will see the upper most line drawn at roughly 34K. This price represents the opening/closing level of the last little bottom, a price that today's candle has bounced off of.

This is very early speculating as today's candle has many hours till it closes and we'd need to see price remain above 34K for atleast a few days in my opinion before I will validate the level as a new support.

Next up 32k....

We saw heavy consolidation back on January 3rd to the 5th and this could be a potential support as well.

Anything below that I don't want to acknowledge hahah.

Posted Using LeoFinance Beta