BTC- Will the key levels be respected? *HISTORY IN THE MAKING!
Updated
Just a closer look from my previous chart, if you didn't see that one go there before coming back to this.
Bitcoin has come down and touched the bottom trend line three times, every time it gets touched it goes up. The previous touch and go was an obvious dead cat bounce, the one before that was our February floor at 5.8k-6k.
There is very harsh resistance zones RIGHT NOW. There is the 200 MA and the .68 FIB creating massive overhead pressure. Will the floor hold? This is a key level.
One thing I find interesting is the RSI and STOCH look good, VERY good actually. Anything and I mean it, ANYTHING could happen right now in this market. This is not a prediction. This is solid technical analysis so you can see both way and options. Can the holders stay calm? Or are there hidden bears in our floor?
We will find out today. If we can close above .68 fib today we will have a small break out. Either way this is history in the making for bitcoin.
Why? Because its getting down to the wire....This will ultimately determine bitcoins stand in the market....its all or nothing now.
IF BTC BREAKS BELOW THE GREEN TREND LINE AND DOES NOT BOUNCE OFF OF THE .78 WE WILL GO BACK TO 100% RETRACEMENT TO TEST THERE, WITHOUT THE FLOOR ITS VULNERABLE.
IF BITCOIN CAN BREAK THROUGH 2 RESISTANCES IN FIBONNACI'S AND 200MA ITS GOING TO 50K END OF SUMMER.
SEE YOU GUYS NEXT WEEK.
Bitcoin has come down and touched the bottom trend line three times, every time it gets touched it goes up. The previous touch and go was an obvious dead cat bounce, the one before that was our February floor at 5.8k-6k.
There is very harsh resistance zones RIGHT NOW. There is the 200 MA and the .68 FIB creating massive overhead pressure. Will the floor hold? This is a key level.
One thing I find interesting is the RSI and STOCH look good, VERY good actually. Anything and I mean it, ANYTHING could happen right now in this market. This is not a prediction. This is solid technical analysis so you can see both way and options. Can the holders stay calm? Or are there hidden bears in our floor?
We will find out today. If we can close above .68 fib today we will have a small break out. Either way this is history in the making for bitcoin.
Why? Because its getting down to the wire....This will ultimately determine bitcoins stand in the market....its all or nothing now.
IF BTC BREAKS BELOW THE GREEN TREND LINE AND DOES NOT BOUNCE OFF OF THE .78 WE WILL GO BACK TO 100% RETRACEMENT TO TEST THERE, WITHOUT THE FLOOR ITS VULNERABLE.
IF BITCOIN CAN BREAK THROUGH 2 RESISTANCES IN FIBONNACI'S AND 200MA ITS GOING TO 50K END OF SUMMER.
SEE YOU GUYS NEXT WEEK.
Note
Key levels have been breached and several hourly candles are closing on under the green trend line. If there is a close of a daily candle under the trend line, God help us all...Note
God...help us all. hold strong.
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