Long

BITCOIN → Price is in consolidation, but there are bullish signs

broke resistance and gave a 4% momentum, it is not enough yet, but we have triggers and key zones. Price is still in consolidation, but it is likely that spring may be close.

You may ask - why are there two scenarios here? Up↑ and down↓ (before growth)?
Well, the price is in consolidation and we have no clear assumptions in which direction the price will go. But we have key levels and zones, price behavior relative to them will tell us where the price will go.
So, let's get to the bottom of it!

Fundamentally, there is a small but important nuance: This week Trump said: “I am done with the war against cryptocurrencies”.
Followed by almost $ 1bn dollars flowing into binance. Is someone getting ready for something?)

1) Technically, we have a trigger for further growth: $99000 - $99300 zone. If the bulls hold the price above the previously broken descending line, the price will head to attack the trigger in the medium term. A breakdown and price consolidation above 99K could trigger a rally.

2) But, chances of reaching 90-91K before rising are still high. If the price continues to test 94.8 - 95K and gradually push through this zone, everything will become obvious. In this case we will wait for a retest of 90K and further growth.

Resistance levels: 99200, 102700
Support levels: 94800, 91280, 90К

On the daily and weekly timeframe we can see that the price is forming a strong consolidation after a strong growth. Globally, this is a positive sign for a continuation of growth, but locally, inside the range, set-ups can be both short and long.

Regards R. Linda!

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

Also on:

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.