Hi, at previous analysis, we mark 3990 area as strong resistance, and look like bullish ran out of gas at this area.
In this analysis I use 1 hour timeframe to get more detail about price action.
previous resistance become support are our bearish key level this week at 3938.
this classic support and resistance perform descending triangle pattern (bearish pattern).
If 3938 break down, bearish projection at 3838. this projection are weak support, bitcoin will break down this projection too.
If diagonal trendline break up, this pattern failed. But it doesn't mean that bullish will continue.
We still have bullish key level at 4038 that will confirm descending triangle transform to bullish flag pattern,
and if it happen we have a new bullish projection with new analysis update ^_^
btw, if you like, hit "LIKE"
If you need ETHUSD analysis, click here
In this analysis I use 1 hour timeframe to get more detail about price action.
previous resistance become support are our bearish key level this week at 3938.
this classic support and resistance perform descending triangle pattern (bearish pattern).
If 3938 break down, bearish projection at 3838. this projection are weak support, bitcoin will break down this projection too.
If diagonal trendline break up, this pattern failed. But it doesn't mean that bullish will continue.
We still have bullish key level at 4038 that will confirm descending triangle transform to bullish flag pattern,
and if it happen we have a new bullish projection with new analysis update ^_^
btw, if you like, hit "LIKE"
If you need ETHUSD analysis, click here
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