Bitcoin $BTC Technical Analysis 24 May 2021

By Mandrakata | On The Edge | 24 May 2021


Technical Analysis

Since last review a lot has done, correcting more than expected.

a000b42bcb65eb5f7c719220a85cd6794b148aeef9f18dc8a7233c920b59400e.png

Anyway we should always follow the courses, so we need to have a long-run zones where prices take place as accumulation zone that can we use as references.  We are now between 2 of these zones for BTC: below is 30K-34K and above is 42.5K-46.5K.

Just today, in the intraday time-frame, seems that prices broke the down trendline with confirmation from the momentum indicator, so for a short time we could see a rebound.

74f2687a7fdd6bb7a2ffc7bde63423ffeb88e46838bfb349158d77d0cac4fceb.png

Starting from April we have a downtrend channel that must be monitored to read and catch all the swings and waves where they will carry the prices.

19b0bfeea96dc7755e671d20fd81a1a0ff7b763ab28fba0cd433e22e52ab3d80.png

https://www.tradingview.com/x/h9i5ekve/

I'm waiting for prices to be in the lowest accumulation zone to enter in the BTC and holding for the Long time-frame.

 

⚠️ Disclosure ⚠️ I wrote this article myself, and it expresses my own opinions.  Above ideas is for educational purpose only, it is not intended to be investment advice.
Some of reported links are affiliate links where I'll earn a small commission if you make a purchase at no additional cost to you.  I will never promote anything I don't truly believe in.


🔑 Best Crypto Wallets
🌐 Best Crypto Exchanges (where I buy crypto) 
💹 Best Crypto Tools for Trading
👍 Free Crypto Faucets (daily airdrops)

 

How do you rate this article?


8

0

Mandrakata
Mandrakata

Risk taker. Creativity solves everything. I practice what I post.


On The Edge
On The Edge

Trading outside your comfort zone. My technical analysis Ideas and Trading journal.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.