BTC possible push up here from the trendline.
Bitcoin has been holding over 10k for quite a while now. Daily support has formed around $10,525. Right now, I am seeing most crypto traders call for bearish plays here, but we are still just printing higher lows and lower highs forming a long triangle. The longer term trend is up - short term has been bearish since the retest at $11,150. After todays stimulus dump - BTC still held up. I think if we continue to hold this trendline and stay over daily support - we will push through the triangle upwards to a retest of $10,950 - $11,150.
However, if support doesn't hold here and the trend os broken, we could see a swing lower down to 10.4k - 10k.
Lets see
Bitcoin has been holding over 10k for quite a while now. Daily support has formed around $10,525. Right now, I am seeing most crypto traders call for bearish plays here, but we are still just printing higher lows and lower highs forming a long triangle. The longer term trend is up - short term has been bearish since the retest at $11,150. After todays stimulus dump - BTC still held up. I think if we continue to hold this trendline and stay over daily support - we will push through the triangle upwards to a retest of $10,950 - $11,150.
However, if support doesn't hold here and the trend os broken, we could see a swing lower down to 10.4k - 10k.
Lets see
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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.