Bitcoin decline after completion of pullback(1-hour time frame)

٥ يوليو ٢٠٢٣

Hi everyone👋(Reading time less than 2 minutes⏰).

First, I recommend you look at the 4-hour Bitcoin chart I shared yesterday.👇

Bitcoin started to decline after contacting the upper line of the rectangle pattern; the first support in front of Bitcoin was the uptrend line.

Bitcoin managed to break the uptrend line (as I expected in yesterday's post) and started to go down and managed to break the 🟢support zone($30,700-$30,560)🟢 a few hours ago.

Bitcoin is currently completing a pullback to the broken 🟢support zone($30,700-$30,560)🟢.

Also, the 20 Simple Moving Average (20-SMA) went below the 60-SMA, which is a sell signal, and the resistance in front of the Bitcoin are 20-SMA and downtrend line, which has reacted well to this extreme move in the previous two minor pivots.

🔔I expect Bitcoin to fall to at least the 🟢support zone($29,860-$29,420)🟢 and the bottom of the rectangle pattern.

Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

٥ يوليو ٢٠٢٣

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