BTC CHANNEL FORMING!

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BTC broke below the 35k support level, it hit our 33k target and now we could see it go to 30k. However, if our candle close above 33k, it could be showing us some strength so it wouldn’t drop to 30k again.

We can also see that BTC is forming a channel, if we break above it and the 35k resistance level, we could continue to 38k then 40k-42k.

Note that we are watching Bitcoin dominance (BTC.D) on the side to predict what would happen. (look at the link below)

Support: 30k
Resistance: 35k


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What do you think?

Good luck traders,

Not financial advice
Manage risk and leverage
DYOR

NajjarTrading

Trade fermée: cible de profit atteinte:

BTC did what we expected, we saw a candle that rejected the 33k support level and closed above it (a hammer candle) and then we move to our targets 35k and 38k. Here we have resistance, we could see a minor move to the downside, a retest, before the continuation, however, when we will get to 40k-42k, here is the real deal.
We need to see a candle close above this area to confirm our continuation to the upside.

Support: 35k
Resistance: 40k