R.Linda Trading - forecast

Trading signals for #BTCUSD → False breakout of a strong support area

CRYPTO forecast
💡 Ideas For BTCUSD🪙

📈 BTCUSD → False breakout of a strong support area

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BTC demonstrates the formation of a sideways flat within the framework of fundamental instability and global uptrend

On the chart we see an ascending channel and the formation of a fairly wide sideways range with a width of $6,000. On the W1 timeframe I have outlined a strong support line, which in turn has multiple confirmations of its presence. The flagman is now forming a reaction after a false break of the 25401 support (which I mentioned). We see a strong strengthening to the resistance 26700. And this resistance level separates us from the classic flat price growth. It turns out that at the moment the price is squeezed between 26700-25400 and a breakout of one of these borders can form an impulse in one direction or another. The fundamental part of the cryptocurrency market is mainly waiting for some key data from the US Federal Reserve or data from the SEC, but so far everything is still unclear.

Support levels: 25401, 24900

Resistance levels: 26700

I expect a retest of 26700 in the near future. I would like to see a breakout of this line as we have a strong accumulation, but at the moment the market is weak. We have to watch the price reaction to these zones

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