Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

BTC – Yellow Support Line Has Held for 4 Weeks

$BTC has been trading around this yellow support line for the past 4 weeks. Bulls have done an excellent job defending this support level, and I think there is solid support building up here. Bears should be concerned about BTC trending up over the next few weeks. As I discussed in previous updates, when BTC has a close above the previous ATHs this usually leads to a continued rally and the start of the cyclical bull run. The BTC halving is now just one week away, and we’ll see if BTC continues to follow the traditional bull market cycle by starting a parabolic rally over the next few weeks.

BTC Update – Lost Support at the Yellow Line, Bull Flag Formation Between Green and Red Line

$BTC just had a steep decline, and hundreds of millions have been liquidated from the crypto market. $BTC is currently trading under the yellow trendline, and it will be important to see if bulls can keep the price above the yellow trendline by Sunday’s weekly candle close. For now there is a bull flag forming with support at the green trendline and resistance at the red trendline. The price action is likely to remain within the green and red lines for now.

ChartChamp socials: https://linktr.ee/realchartchamp

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

ETH Still Neutral After ETF Approval

I’m sure many of you are wondering why ETH hasn’t pumped after yesterday’s ETF approval news. The pump occurred before the ETF was approved with a strong pump on Monday. ETH is currently trading between the light blue and yellow zones. When the Bitcoin ETF was approved we saw a strong rally from $35k to […]

Read More
Default Thumbnail

BTC Trying to Rebound off the Bull Pennant

BTC has been in a downswing after a rejection at previous all time highs in the yellow zone. Yesterday I discussed how the white trendline from the bull pennant could be a short-term support target. There was a wick down to this white trendline, and BTC has been forming a rebound so far. I think […]

Read More
Default Thumbnail

Ethereum ETFs Approval: Possible Bull Run But Still Uncertain

The cryptocurrency market is abuzz with speculation as the potential approval of spot ether (ETH) exchange-traded funds (ETFs) in the U.S. seems to be drawing near. Although, not long ago the overall sentiment regarding such approval was not very bullish, now everyone seems to be very hopeful and are seeing this anticipated regulatory decision as […]

Read More