BTCUSD needs to move up from trendline

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If BTCUSD stays too long near the trendline, then orders will be filled up making it easier to go below 2,500.

If Bitcoin can move up and away from it, it has to reenter the supply zone near 2,600. If it goes above it, then the broken blue line will become its resistance.

ノート

Bitcoin just broke down from the trendline support. Next target is 2400.

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Just an idea.

Bitcoin could be forming a double bottom. If the bottom doesn't form, next stop is near 2,300 level.

ノート

RSI and averages points down so it could move back to 2500. In this zone, buyers and sellers must decide if price goes up or down.

If it goes down, it could reach 2400 and retest the previous bottom.
If it goes up, it will challenge the resistance at 2,540

ノート

Looks like bitcoin is forming a continuation pattern going down.

2390 is the next target. Lower target is 2240.

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I'm seeing a bullish divergence in RSI.

Unfilled orders on the 2,400 levels are high, thus, it would be difficult to go below it.

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Don't let that candlestick have a long wick. Pls let it break.

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Huge 223 BTC wall up ahead at 2,500

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Bitcoin needs rest.

Could accumulate around 2450 - 2470 levels before going up again

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let's break 2,500 first. 3rd time's the charm, right?

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let's aim small first. go for 2,500

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Eat that wall at 2490. Previously, the wall was at 200 BTC, now it is at 90 BTC.

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Wall is gone! 2500 and up here we come.

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2540 is next

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On a higher timeframe, we need to break the yellow downtrend line to get to 2580.

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A dump just happened. Retracing back to 0.618 area

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If bitcoin stays within the channel, then uptrend momentum is safe.
But if it goes down, then expect to go lower than 2,400.

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Just like in basketball, it's bad to stay long in one area. Bitcoin needs to go up from it or else there will be more lows to come.

For now, let's see how the price reacts.