Bitcoin- Up after confirmation of support
Last week, Bitcoin has broken above the descending trend line resistance of the symmetrical triangle and reached a high of 22.5k.
Now the main cryptocurrency is correcting this leg up and a new up move could follow.
20k zone is confluence support and in this zone, bulls can look for buying opportunities.
However, keep in mind that the trend is grossly down, and a break and close under this important support could lead to further losses and most probably to a new low under 17.5k
Now the main cryptocurrency is correcting this leg up and a new up move could follow.
20k zone is confluence support and in this zone, bulls can look for buying opportunities.
However, keep in mind that the trend is grossly down, and a break and close under this important support could lead to further losses and most probably to a new low under 17.5k
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