Continuing from my past analysis here 
We have seen some nice volume flow in the last day and currently we've hit resistance at 7.2k(which mirrors the high from the 13th). My original support set was loosely defined but nonetheless created a double bottom and eventually punched through the top trend line that BTC has been respecting for the past few weeks. This has created a bullish sign into new territory but recent resistance, bearish tendencies and BTC's previous sideways movements suggest a correction.
There's a small divergence on the RSI forming(on the 1hr) which could lead to another failed attempt at 7.2k as well as bears constantly considering world events, but the good news is the long term trend line could now act as support which is in line with the VP's point of control(and previous horizontal support zones) to mark an X on a map. This would be a very bullish retesting sign and a perfect entry point at 6.85k
Ideas only and happy trading!
We have seen some nice volume flow in the last day and currently we've hit resistance at 7.2k(which mirrors the high from the 13th). My original support set was loosely defined but nonetheless created a double bottom and eventually punched through the top trend line that BTC has been respecting for the past few weeks. This has created a bullish sign into new territory but recent resistance, bearish tendencies and BTC's previous sideways movements suggest a correction.
There's a small divergence on the RSI forming(on the 1hr) which could lead to another failed attempt at 7.2k as well as bears constantly considering world events, but the good news is the long term trend line could now act as support which is in line with the VP's point of control(and previous horizontal support zones) to mark an X on a map. This would be a very bullish retesting sign and a perfect entry point at 6.85k
Ideas only and happy trading!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.