BTCUSD started a very good bullish run in the past month. If you look at the daily chart you see that the price reached resistance at 10000.00 and was rejected. Therefore correction was in play for few days, finding support at 9000.00 level. We can see the yellow zone, representing the support and resistance points. I think support at 9000.00 level will be strong enough to hold the price up. The whole market seems to be bullish and I think that it shows the real strength of bulls. Based on past days market signals, I think we should expect for further upward movement to 10300.00 level after this minor correction and if the market stays bullish. We need more volume in order to gain value. Waiting for breakthrough.Other option is that the
BTCUSD support will not uphold the movement. If this happens, the price could drop at lower level. I think to at least 8000.00 level. And from there on we will see new up movement. If 8000.00 support can’t hold the market, the price could go even lower. Remember always tend to buy on supports and sell at resistances! Please share your thoughts or tap like button if you like my idea!
Trade active
Adding to long term positionNote
BTC is going to retest the support in 6400-7200 area, if support holds and we see a bounce we will have a triple bottom and thats a bullish pattern.Note
Testing the trendline.Note
Bitcoin is near the support (demand) zone, hopefully there will be some volume to stop falling and support going to upper levels.Trade active
Adding to long term position.Note
Testing support zone.
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.
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.