🛑🛑🛑 Technical analysis of BTCUSDT (1D)🛑🛑🛑

$BTC $NOT $BB

  1. Parabolic SAR (Parabolic Arab Resistance System) indicator:

    • The chart shows that the Parabolic SAR points are located above the candles. This indicates a downward trend at the moment. 📉

  2. Indicator Ishimoku:

    • Kijun-sen (blue line): Indicates a long-term trend. The line is above the current price, indicating a bearish trend. 🐻

    • Tenkan-sen (red line): Indicates a short-term trend. The line is also above the current price.

    • Senkou Span A and B (cloud): The current price is below the cloud, which is a bearish signal. However, the cloud shows possible resistance and support in the future.

    • Chinkou Span (green line): The lag line is below the price chart, confirming the bearish trend. ⏳

  3. Support and resistance levels:

    • Resistance: Area between $70,000 and $72,000. The price tried to break through this level several times, but without success. 🔼

    • Support: Area approximately $63,000. This level supports the price and does not allow it to fall much. 🔽

  4. Trend line:

    • The chart shows an upward trend line, which shows the upward price movement over the past few weeks. If the price breaks this line down, it could signal a continuation of the downtrend. 📏

conclusions

  • Short Term: In the short term, we see several bearish signals such as the Parabolic SAR positions and the Ichimoku cloud. However, the price is on an upward trend line, which could mean a temporary pullback upward.

  • Medium Term: In the medium term, the price should hold above the support level around $63,000. Otherwise, we can expect the decline to continue.

  • Long-term outlook: To confirm the long-term bullish trend, it is necessary to break through the resistance level of $72,000 and consolidate above the Ichimoku cloud.

📊 Trading recommendations:

  • Buy: Consider buying the $63,000 support area with a short stop loss below that level.

  • Sell: Selling may be wise in the $70,000-$72,000 resistance area if price fails to break through this level.

  • Caution: Watch for a downward break of the trend line, which could be a signal for further price declines.


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