BitcoinLong
100 SMA REBOUND (?) - $135,000 / $140,000
As illustrated, I'm trying to visualize a potential rebound off of the 100SMA that matches the resistance line of what looks to be an ascending triangle that has been broken and retested.
Price is showing support at such line that happens to overlap with the 100SMA.
I might be "wanting to see" bullishness in the market, but you be the judge of these observations.
The long rejection wicks at the bottom seem manipulative... almost as if there was selling pressure to shake off HODLERS and new investors (?) ...
Will the US approve the famous BTC reserve? ...
--
LET'S SEE WHAT HAPPENS!
Price is showing support at such line that happens to overlap with the 100SMA.
I might be "wanting to see" bullishness in the market, but you be the judge of these observations.
The long rejection wicks at the bottom seem manipulative... almost as if there was selling pressure to shake off HODLERS and new investors (?) ...
Will the US approve the famous BTC reserve? ...
--
LET'S SEE WHAT HAPPENS!
Note
Daily candle is likely to call BULLISH. Engulfing 4H resistance levels.
A shift in structure took place on the 4H timeframe, and price is showing rejection at the break range.
Should these prices hold as support into tomorrow, that could indicate the beginning of the next bullish leg that could target at least the $100,000 - $107,000 price range once again.
Should price CLOSE BULLISH WITH STRENGTH on DAILY and WEEKLY timeframes back toward ATHs, then it is looking Wonderfull for what could be the potential continuation, expansive impulse toward $120,000 - $130,000 price range for what historically has been a very strong bullish FEB in the past years of growth cycles.
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Stay tuned.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.