BTC/USD - Epic support gives hope for a breakout! 🚀
Damn bro, that support can take a beating. Look at it holding price 5x times already.
While each bounce has been a bit weaker of the support, one thing is clear... buyers are very keen to snatch BTC at 41k. This leads me to believe any price under that would see even higher buy pressure.
The exciting news is that we're slowly approaching a key resistance level from our local top at around 53k. At this rate, I see it quite likely we will test this trendline soon and if it break, hello PUMP season.
We are probably a few days from that, and over this weekend I expect us to get some exciting price action. We may also re-test our support, AGAIN, however, look at the indicators.
Daily on RSI has painted a higher low and MACD is slowly curving up and the histogram is slowly moving towards a positive flip. If this continues, I believe we will have some good momentum behind us to really put that resistance in danger.
So there are some good signs we may be optimistic here. But first, got to let price move for another day or two to get better clarity.
We will review this again tomorrow.
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While each bounce has been a bit weaker of the support, one thing is clear... buyers are very keen to snatch BTC at 41k. This leads me to believe any price under that would see even higher buy pressure.
The exciting news is that we're slowly approaching a key resistance level from our local top at around 53k. At this rate, I see it quite likely we will test this trendline soon and if it break, hello PUMP season.
We are probably a few days from that, and over this weekend I expect us to get some exciting price action. We may also re-test our support, AGAIN, however, look at the indicators.
Daily on RSI has painted a higher low and MACD is slowly curving up and the histogram is slowly moving towards a positive flip. If this continues, I believe we will have some good momentum behind us to really put that resistance in danger.
So there are some good signs we may be optimistic here. But first, got to let price move for another day or two to get better clarity.
We will review this again tomorrow.
Like and follow if you liked this idea!
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