BTC/USDT : Reached channel's bottom!

8 мая 2022 г.

BTCUSDTBTCUSDTPERP
Hello everyone 😃
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!

BTC has reached the descending channel's bottom and so there're some similarities to check for...
Last time that BTC has reached the channel's bottom ( Formed the channel bottom);
It just pulled back above our S/R local Line located on $~40600 and it has retested the channel's top.

Now we have the same bottomed candle formation and the local S/R Line above.
Also on wider Look, We have a stiff support zone at $33400 - $32800.


So based on our data; BTC can pullback from the local channel's bottom or the lower Support zone!
📝 The main bias is still bearish and I won't use this possible pull-back to take advantage!
I'll only look for possible Longs when we get the closings above $35500 straight from our current level.
- The first confirmation should come to our current candle close just like the marked one.
- The second confirmation should be the candle closings above $35500, Otherwise, It'll drop to the local support zone it'll invalidate our Long position's opportunity ( Trigger will be closings above $35500 ).

- Be informed that our possible short-term bullish will be canceled if we get the weekly closing below $35650.
The importance of the mentioned line is just like $42000 (The main bias changer on weekly TF);
It's been 280 Days (40 Bars/Candles) Since our last weekly close below $35650!


All of the given information is for acknowledgment only!
⚠ The possible pullback won't invalidate our Short-Term positions yet!

Hope you enjoyed the content I created, You can support us with your likes and comments!
Attention: this isn't financial advice we are just trying to help people with their vision.

Have a good day!
Helical_Trades