BTC has formed a rising wedge at this point. It's also still in the downwards channel. Once this wedge has a breakout downwards, first stronghold is at 6400. There's a chance it might bounce from there and break out of the downward channel. Note
Right after I posted this the breakout happened. On Bitfinex it bounced off of 6450 but on Bitmex it reached down to 6425 and took off the liquidty that was at 6450. In The next cluster of order are stacked at 6420 for Bitfinex and 6400 for Bitmex. It will retest these levels to see if it can break down. As of this comment we're around 6480.
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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.