Looking forward (and upward) for Bitcoin
Updated
BYBIT:BTCUSD
These are some of the levels I'm looking at on bitcoin's way back up to All time highs. Always good to know where the next resistance line is, as these will act as good take profits and subsequently areas we may scalp short positions. Going back into the channel we broke out of invalidates. Daily candle close above 49500 may be strong indication of our multiweek downtrend coming to a conclusion. Your relatives might be the ones to bring up bitcoin before you for a change this holiday dinner.
These are some of the levels I'm looking at on bitcoin's way back up to All time highs. Always good to know where the next resistance line is, as these will act as good take profits and subsequently areas we may scalp short positions. Going back into the channel we broke out of invalidates. Daily candle close above 49500 may be strong indication of our multiweek downtrend coming to a conclusion. Your relatives might be the ones to bring up bitcoin before you for a change this holiday dinner.
Note
Keep in mind that we're meeting a weekly level of resistance as well as a multiweek downtrend right now and there's always a big risk in longing into resistance so keep leverage minimal/manageable with stop losses set at invalidation. we're preferably like to see 49k resistance broken and then backtested as support.
Note
Back test might be in.
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