BitcoinUpdated Key levels still capping bitcoin advance
This key 38.2% retrace off entire move lower from December highs to Feb lows has been capping advances since mid february. False breakout on the 20th was quickly reversed until we found support on trend line. Will the recent breakout (and some big volume moves) of this "triangle" give the momentum for bitcoin to finally break this level. RSI profile shows a break of the double tops around ~65 will be required. Above this breakout comes even more significant areas. The 100 daily moving average along with the long term downslope off december & january highs (LOG scale).
A break of these areas eyes up ~15k which is the 100% extension 6/2 -> 20/2 -> 25/2 move.
A break of these areas eyes up ~15k which is the 100% extension 6/2 -> 20/2 -> 25/2 move.
Note
Tentative break of the 38.2% retrace and ~65 RSI. Need a more significant push from this level to confirm a break.
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.