The price of bitcoin (BTCUSD) opened today's trading with a sharp decline, losing around 10% of its value to reach the 40295.00 areas, and reached the support of the ascending main channel that appears on the chart, in noting that the price rebounded quickly from there to stabilize around the 42205.00 areas, and is trying to recover and resume the main uptrend, but we prefer to remain neutral until trading stabilizes and we were getting a clearer signal for the next trend.

We highlight that breaking 42205.00 and stability below will put the price under further negative pressure targeting the 40295.00 areas again, while surpassing 42625.00 will push the price to try to resume the main path upwards and make gains. winnings reaching 45000.00.

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The price of bitcoin (BTCUSD) is showing a downtrend in a secondary descending channel that appears on the chart above, which we believe is forming a continued bull flag pattern, meaning a breakout of resistance 43830.00 will activate the positive effect of this pattern and then push the price to resume the main uptrend, remembering that our next target reaches 45030.00.
Therefore, we will continue to favor the uptrend for the coming period, paying attention that a break of 43000.00 stops the expected rise and weighs on the price to move lower in the short term.
The forecasted trading range for this day is between support 43000.00 and resistance 44200.00.

Mid-day update for Bitcoin (BTCUSD) price 07-12-2023
Bitcoin (BTCUSD) price is under negative pressure to move towards pivot support 43365.00, which requires attention for upcoming trades as price needs to stabilize above this level to keep the uptrend scenario active for today, which mainly targets the 45030.00 zones.
We remind you that the break of 43365.00 will swing the momentary path downward towards the test of 42210.00 levels as the next main objective.
The forecasted trading range for today is between support 43200.00 and resistance 44200.00

The price of gold continued to fall and moved closer to the support of the ascending channel, and we notice that the price is starting to rebound higher as a sign of the resumption of the main uptrend at the heart of the ascending channel which appears on chart, en route to making gains that begin by testing the 2075.25 areas.
Therefore, the uptrend will be likely for today, supported by the positivity of the stochastic indicator, and the breakout of 2028.00 will make it easier for the price to reach the expected rise, paying attention to the fact that the breakout of 2006.00 will stop the uptrend and put pressure on the price to begin a short to medium term bearish correction.
The forecasted trading range for today is between support 2010.00 and resistance 2050.00

Bitcoin (BTCUSD) price rose sharply yesterday to break the $44000.00 barrier and reach the 44500.00 areas, heading towards the resumption of the main uptrend, en route to visiting ascending channel resistance around 45030.00 as next primary objective.

Therefore, we expect to see more upside in the coming sessions provided the price maintains its stability above the 43275.00 level.

The forecasted trading range for today is between support 43300.00 and resistance 44600.00

Bitcoin (BTCUSD) Price Hits Stretch Target – Analysis – 05-12-2023
Bitcoin (BTCUSD) price managed to touch our expected target at 42205.00 and found strong resistance there, showing some temporary downtrend, affected by the negativity of the stochastic index, and enjoying positive support continuation of the 50 moving average, strengthening the chances of crossing the mentioned level and paving the way for making additional gains reaching the areas of 44000.00 dollars.
Therefore, we continue to favor the uptrend for the coming period, being careful that a break of 41490.00 stops the expected rise and pushes the price to begin a short-term bearish correction.
The forecasted trading range for today is between support 41400.00 and resistance 42500.00

#MyFirstFeedPost Bienvenue sur Binance Square !The price of Bitcoin (BTCUSD) shows more upward inclination to start the process of breaking the resistance of the main ascending channel and tries to confirm the stability above it, reinforcing the expectations of continuing the upward trend during the next sessions, with a reminder that our expected targets start at 39000.00 and extend to 40000.00. From here, we continue to favor the upward trend in the short and short term unless the level of 37470.00 is broken and stable below it. The expected trading range for today is between support 38000.00 and resistance 39200.00