- Bitcoin will break it's current resistance level if it closes today above our current resistance level at $11,379.
- Next resistance level thereafter will be $16,947.4.
- RSI still has room for growth.
- A lot of buying volume since start of Feb (albeit low)
Key:
Red: Resistance, Green: Support, Intensity = strength
Note
This could be:* A small retracement to next support (or close to it)
* A bounce from resistance that could confirm a downtrend
It's uncertain to confirm either way. The only bullish signal on this chart is our RSI. Based on this, I am still bullish on Bitcoin for the next month at least before another, big, retracement.
Note
Note
We are now testing our $9666.9 support. If it closes below in the next few day a short order can be opened. First Target: $7474.3 Second Target: $5955.4
At $5955.4, if volatility decreases, it would be the perfect buy in range for long.
Trade closed manually
New Idea based on this low volatility outcome.
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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.
Related publications
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.