Zooming down to the lower time frame charts, one can conclude that the price has been consolidating around this area for some time now while not being able to break below the support area shown in the chart.
If we look at the recent price action, we can see some good movesprinting press. This indicates that buyers have entered the game and are aiming to raise the price.
Although $36,000 is still our initial target (resistance area corresponds to 0.618 .).Level, we will keep a close eye on the lower time frame charts and look for further confirmations before executing long trades.
BTCUSD by Investroy
– Technical Analysis – 09-27 2022 21:58:14 – Coinfune [SV]