Long

BTCUSD buy on bounce off 6800 price level

Updated

Last few days have seen quite an explosive buying surge (~ 10 billion usd) in bitcoin, at this moment it's at a strong resistance level.

I'm expecting a good bounce off the 6800 price level (resistance becomes support) which will be a good test for the bulls.

Wait for the signal on the 6800 support level to buy into the next bull run.

Note

Around 9000 there's resistance, it might drop to previous support before it breaks

Note

Watch this level around 6800, on a convincing bounce we could see the start of a bull run

Note

broke passed the area of support, negative sentiment is still strong.

Note

It broke support, retest of 6600 support line and looking bearish

Note

We're still in the wedge, could go either way

Note

6800 is still a key support resistance level and a safe bet to place the buy order. A bit more patience

Cenotaph

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.