BTC - The importance of 25K
25K - The second most important level after 30K (which BTC rejected from - link here https://www.tradingview.com/chart/BTCUSDT/0ZJRBFXh-WHY-the-zone-BTC-has-entered-is-important/ )
25K is the neckline of inverted Head & Shoulders pattern, which if completed, could see BTC heading towards 34,5K (regular) or 40k (logarithmic) target.
After coming into contact with 30K level, BTC has drifted down in an descending channel or a falling wedge, making it's final little touch with the 25K level. A breakout from the wedge to the upside is the general outcome, but price of course can take a different direction, path marked with red color.
It is notable though, that the volume has dried up on Binance, the biggest exchange.
What are your thought on BTC's next direction?
25K is the neckline of inverted Head & Shoulders pattern, which if completed, could see BTC heading towards 34,5K (regular) or 40k (logarithmic) target.
After coming into contact with 30K level, BTC has drifted down in an descending channel or a falling wedge, making it's final little touch with the 25K level. A breakout from the wedge to the upside is the general outcome, but price of course can take a different direction, path marked with red color.
It is notable though, that the volume has dried up on Binance, the biggest exchange.
What are your thought on BTC's next direction?
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