BTC watch out
Updated
There was much bullish movement on the market today.
The price hit the resistance at 8897 USD and is currently correcting.
Everything above 8398 USD would then be a higher low, which would break the series of lower highs and lower lows that has been established since Feb 26.
A move above resistance level could trigger a bullish continuation to the top of the short-term downward channel.
9614 USD will act as key resistance.
Since the current consensus in the market aimed towards 8k there is still a high probability that BTC will stay inside the channel.
Taking the drop of Feb24-26 in consideration, a similar drop from its fib .5 line would aim for the 8k - 7.8k area.
The price hit the resistance at 8897 USD and is currently correcting.
Everything above 8398 USD would then be a higher low, which would break the series of lower highs and lower lows that has been established since Feb 26.
A move above resistance level could trigger a bullish continuation to the top of the short-term downward channel.
9614 USD will act as key resistance.
Since the current consensus in the market aimed towards 8k there is still a high probability that BTC will stay inside the channel.
Taking the drop of Feb24-26 in consideration, a similar drop from its fib .5 line would aim for the 8k - 7.8k area.
Note
BTC was rejected at the .618 fib line and eventually staying well below the 9000 USD level.See my new post for more short term details
Note
New low at 8150 USD.I already bought the dip, but BTC is still not oversold on the daily. There might be some steam left.
This is crypto how I love it <3
Trade closed: target reached
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