It seems that the symmetric triangle is breaking in the downward direction on lower timeframes. The price is attempting to break the small downtrend line but is currently trading below it. There is a possibility that we might witness a test of the lower support area before the next move. It is recommended to keep a tight stop loss in all open positions.
- Support Area: $59,000-$60,000
- Next Support Area: $54,000-$55,000
- Resistance Area: $64,000-$65,000
DOT CHART
DOT has been on an upward trend and has now reached the previous resistance level. We may see a retest of this resistance area. If the price manages to break above this resistance level, then we may see a good rally. The key level to watch out for is $10, which is a psychological resistance area.
WAN CHART
As expected, WAN has moved and is now attempting to break the resistance line. Wait for a candle to close above this resistance area for new entries. If there is a rejection from here, the price will move towards the support area.
Next Resistance Area: $0.305-$0.32
LRC CHART
LRC Analysis:
The price of LRC is currently testing the resistance area, coinciding with a minor downtrend line acting as resistance. A successful break above this resistance would signal bullish momentum and likely lead to a continuation of the upward rally.
Resistance Area: $0.335-$0.350
the recent introduction of Bitcoin ETFs has significantly bolstered demand from institutional investors, acting as a major sink for available supply. These ETFs have already absorbed over $9 billion in BTC, underscoring a strong appetite among institutional participants. Given this escalated demand against a backdrop of diminishing new supply, there is a visible potential for upward pressure on Bitcoin’s price.
#TrendingTopic #BTC #WAN #DOT #LRC
PLEASE, YOUR GENEROUS FINANCIAL SUPPORT 🙏 IS NEEDED. THANK YOU
THIS POST WAS MEANT FOR "3th of March". SO SORRY ABOUT THE DELAY
