Bitcoin technical anaylsis

The pair BTC/usd has been in a bear market for 3 months which is a relative long time in the crypto world. The bears keep full control. Here and there, there might be some trades you can make. The chart below shows BTC/usd over 1 year. BTC/usd might find support on the long term support . If this support holds, then BTC/usd wil be forming a pennant which will be very tight around mid-april. If BTC/usd breaks the support, we might retest the 300 ma or the former low of $ 6000. If BTC/usd breaks through the 3-month resistance, then there might be some more bull sentiment.

The image below, show a smaller time-frame BTC/usd. The intersection where the short term and the long term support converge might be a good buying oppertunity. Break through these supports is a sell signal. Some profit taking might be taken place just under the 3-month resistance.

Disclaimer: This is not financial advise.

I just want to give my humble opinion on some products by doing technical analysis. There may be some minor and/or major flaws. Nobody is perfect and I'm willing to learn from my mistakes through your opinions. Thank you.

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Image source: https://www.tradingview.com/