📣Technical analysis #bitcoin September 27, 2023
✅Frame 1D: BTC is moving below the black diagonal resistance line number 1 below the picture and below the red ichimoku cloud. Thus, currently the downtrend is still dominant.
✅To break this downtrend, a strong impulse is needed to break the diagonal resistance line above number 1 and approach the next resistance area at 27k5 and 28k3. If Bitcoin breaks out of that zone and remains stable, a new uptrend can occur.
✅With the world economic situation still unstable and the FED's interest rate decision still unclear, investors' psychology is still very cautious. Many investors are predicting that there may be a final increase this year in November. This occurrence could lead to a decline in Bitcoin price to the support area below 25k.
The above are personal analysis, not investment advice. Wishing everyone a good day !
