showing Bitcoin's price movements over a short period on May 22, 2024. Here’s a detailed analysis of the chart: Key Observations: Price Levels:High: 71,445.00 USDTLow: 69,167.44 USDTCurrent Price: 69,946.73 USDTVolume:There is noticeable volume activity, with higher volumes observed during the declines and increases in price.Trends:The chart shows a clear downward trend starting from around 06:00, with the price decreasing significantly until around 13:00.After 13:00, there is a slight upward correction followed by a sideways movement indicating a potential consolidation phase.Support and Resistance:Support Level: Around 69,167.44 USDT (green dotted line).Resistance Level: Around 70,144.82 USDT (red dotted line). Possible Move Analysis: Current Trend:The recent price action suggests a consolidation phase following a downward trend. This might indicate that the market is pausing before making the next significant move.Support and Resistance Levels:If the price breaks below the support level at 69,167.44 USDT with strong volume, it could lead to a further decline.Conversely, if the price breaks above the resistance level at 70,144.82 USDT with increased volume, it might indicate the beginning of a bullish reversal.Volume Analysis:Analyzing the volume bars, there is a correlation between high volume and price drops, suggesting selling pressure. If future volume increases while the price remains stable or increases, it could indicate a shift in sentiment towards buying. Potential Scenarios: Bullish Scenario:If Bitcoin's price manages to break and sustain above the 70,144.82 USDT resistance level with significant volume, it could lead to a bullish trend. Key levels to watch after this would be the previous highs around 71,000 USDT and above.Bearish Scenario:If the price fails to break the resistance and instead drops below the current support level of 69,167.44 USDT, it could trigger further selling. The next support levels to watch would be the previous lows, potentially below 69,000 USDT.Sideways Movement:If the price remains between the current support and resistance levels without significant volume changes, it might continue to consolidate, indicating market indecision. Conclusion: The chart suggests a potential consolidation phase after a downward trend. Traders should closely watch the key support and resistance levels, along with volume changes, to anticipate the next move. A breakout in either direction with substantial volume will likely determine the short-term trend for Bitcoin.
$BTC The market will come down suddenly. Wait a little, I will not take any trade in a long position now. The train has already left. I will Wait for the next train... 🤔SAFU 🙏
$NOT 😇$NOT I am not in, yesterday took a small entry, and after a 10% profit just out from trade, setting on the sideline.. no more $NOT now let price recover 50%... SAFU 🙏 #notcoin
$ENA $FLOKI $RNDR 3 TRADE SETUP THAT I WILL TAKE IN SPOT IF TAKE IN FUTURE THEN MAX 3X, THE MARKET CAN MOVE ANYWHERE SO BE CAREFUL, SL MAX 3%, DYOR 🙏 #altcoins #Memecoins
Good morning, $BTC dominance is very high 55.95 which is why the ALT coin not going up, so before taking trade consider $BTC dominance. we can see an ALT rally if $BTC dominance comes down
$ENA $RNDR Yesterday when I posted "I swapped all my $ENA to $RNDR " for quick recovery of my ena trade losses, many of my friends commented I just made another mistake and I would regret it when ENA reached 0.94, my answer was, that I will repost this when RDNR reach 11.00 friends my decision was right, #ENAUSDT🚨 until stuck on 0.733, happy trading 😍🙏💪
LIVE
TradeCoin-BD
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I just swapped all my $ENA to $RNDR for quick recovery, from the last 4 days Price down 0.84 to 0.72, no more love ...😂
$BTC reversing slowly in a 30-minute time frame $BTC takes support from 61175.50, 1st resistance will be 62430 then 2nd resistance is 63210, if any reason BTC dumps it can again take support 60843, $BTC bullish 💪 #BTC🔥🔥🔥🔥🔥 #BTC☀️