BTC short term moves
Updated
As I predicted the reversal of Bitcoin in my last TA perfectly on point I want to go a bit in a shorter timeframe I that one.
BTC got rejected at the 9.2k range (which I mentioned was a critical resistance point) and is now moving a long in the middle of the upward channel - I can see BTC going back to 8700$ and test test support there (Fib line, Upward channel and previous support) - IF we break that we can again expect lower lows and the reversal wa maybe only a dead cat bounce.
I still see more momentum to the upside and see BTC bounce off (or not even get to) the 8700$ range.
Good luck!
BTC got rejected at the 9.2k range (which I mentioned was a critical resistance point) and is now moving a long in the middle of the upward channel - I can see BTC going back to 8700$ and test test support there (Fib line, Upward channel and previous support) - IF we break that we can again expect lower lows and the reversal wa maybe only a dead cat bounce.
I still see more momentum to the upside and see BTC bounce off (or not even get to) the 8700$ range.
Good luck!
Trade closed: target reached
We broke through 8.7k and bounced back the 0.618 fib level which is a good sign. I see todays declines on the one-day chart quite similar to the first pullback after the bounce from 6k in February.
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.