Bitcoin- why is it important for the price to close above $58,7k
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Let's look at the local and global picture on the bitcoin chart.
Locally, a falling wedge pattern has formed on the chart.
The price starts to squeeze to the upper boundary, which is a signal for a breakout. But we have to be careful because a false breakout might occur.
Globally it is worth pointing out that today is the close of the month. Today is a very important day. If the monthly bar closes above the level of 58,773$, that will be a test of the monthly high as support, which is a strong bullish signal. If it closes below the level, it is worth reducing your risk as technically it would be a bad signal.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
Locally, a falling wedge pattern has formed on the chart.
The price starts to squeeze to the upper boundary, which is a signal for a breakout. But we have to be careful because a false breakout might occur.
Globally it is worth pointing out that today is the close of the month. Today is a very important day. If the monthly bar closes above the level of 58,773$, that will be a test of the monthly high as support, which is a strong bullish signal. If it closes below the level, it is worth reducing your risk as technically it would be a bad signal.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
Nota
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- Global picture
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