Bitcoin is back on edge. For BITTREX: BTCUSDT By ShawnMCR – Technische Analyze – 2022-09-08 07:35:17

Hello dear TradingView Individuals .
This is the Bitcoin idea.

First, I must apologize to you for not writing anything Bitcoin analysis over the past month. The main reason is that Bitcoin I just moved on the base and it got boring for me. Accurate price action and resistance and support levels have created a recurring pattern.
But now the price has gone down (4 hours time frame), and as you can see it is back again Support level repeatedly. This means that the price has the potential to continue correcting down to the 12K level or even pump again resistance level .

As you can see on the chart, there were two corrective declines and consolidations after each.
These drops were stopped by the bottom band with us descending channel Then it consolidated for a while until the next drop occurred.

If you want to know which two key support levels will drop, take a look at this chart I posted earlier:

So, for now, wait for our first local support 17 K region. After some consolidation, if the market is still corrective and weak, we will test the 12K area.

RSI Suggests oversold.

Now let’s see your thoughts. Let’s have a discussion.

Let me know if you have any questions;
I am more than happy to help.

Good luck, thank you.

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