$BTC - My analysis on 15m - The trend is still down
Guys, looking at the $BTC chart today (10/09) on the 15-minute timeframe, what I’m seeing is what I already said before: a bearish trend in the short term.
Bitcoin hit 77.959 and after that it wasn’t able to make a higher high again. Instead, there were 3 attempts to go up and all 3 failed, with highs getting lower each time. I drew the downtrend line and it’s very clear.
Another point I mentioned: price lost the yellow moving average (AVL 76.992) and broke with a strong red candle at the end of the day. When BTC is below the moving average on the 15m, it shows that selling pressure is stronger.
Now we’re at 76.875, basically right on top of the most important support of the day, which is the 24h low at 76.676,07. If it breaks this level, it can keep falling in the very short term. If it holds, we could see a rebound trying to return to the 77.100 / 77.200 area, where the moving average is.
Remember, this is only a 15-minute analysis, and that timeframe has a lot of noise. To know whether it’s a correction or the start of a bigger drop, we need to confirm on the 1h and 4h. But on the 15m, for now, it’s going down.
So, what are you guys seeing? Are you also seeing this LTB?
Educational content, not investment advice.
#Binance #BTC
Guys, looking at the $BTC chart today (10/09) on the 15-minute timeframe, what I’m seeing is what I already said before: a bearish trend in the short term.
Bitcoin hit 77.959 and after that it wasn’t able to make a higher high again. Instead, there were 3 attempts to go up and all 3 failed, with highs getting lower each time. I drew the downtrend line and it’s very clear.
Another point I mentioned: price lost the yellow moving average (AVL 76.992) and broke with a strong red candle at the end of the day. When BTC is below the moving average on the 15m, it shows that selling pressure is stronger.
Now we’re at 76.875, basically right on top of the most important support of the day, which is the 24h low at 76.676,07. If it breaks this level, it can keep falling in the very short term. If it holds, we could see a rebound trying to return to the 77.100 / 77.200 area, where the moving average is.
Remember, this is only a 15-minute analysis, and that timeframe has a lot of noise. To know whether it’s a correction or the start of a bigger drop, we need to confirm on the 1h and 4h. But on the 15m, for now, it’s going down.
So, what are you guys seeing? Are you also seeing this LTB?
Educational content, not investment advice.
#Binance #BTC
