Recap of the last update:-
We needed a retest to the #37k level and it's already done.
Though it wasn't a wick rather it was a slow bleed the support on this 12-hour chart is holding so far.
There's a slight change in this scenario:-
Rather than having a double bottom, we witnessed a triple bottom here added with a strong bullish divergence in RSI!
1. USDT Dominance is on resistance and while writing this update, it already got the rejection waiting for the daily close for the confirmation.
2. TOTAL MCAP has retested multiple times and giving us a bullish hint to the upcoming move for BTC.
3. BTC is bouncing right off the support trendline with strong buying by the whale addresses by Onchain.
4. We are holding the support so far.
5. Everyone was waiting for the double bottom while we ended up with a triple bottom.
6. More details are given in the chart, please observe.
Based on the above-given facts I think an upwards rally is highly likely given the condition BTC breaks above the blue MA and holds this level.
INVALIDATION:- Break below this pattern.
Let me know your thoughts in the comments section.
Do hit the like button if you like my charts.
Thank you
#PEACE
We needed a retest to the #37k level and it's already done.
Though it wasn't a wick rather it was a slow bleed the support on this 12-hour chart is holding so far.
There's a slight change in this scenario:-
Rather than having a double bottom, we witnessed a triple bottom here added with a strong bullish divergence in RSI!
1. USDT Dominance is on resistance and while writing this update, it already got the rejection waiting for the daily close for the confirmation.
2. TOTAL MCAP has retested multiple times and giving us a bullish hint to the upcoming move for BTC.
3. BTC is bouncing right off the support trendline with strong buying by the whale addresses by Onchain.
4. We are holding the support so far.
5. Everyone was waiting for the double bottom while we ended up with a triple bottom.
6. More details are given in the chart, please observe.
Based on the above-given facts I think an upwards rally is highly likely given the condition BTC breaks above the blue MA and holds this level.
INVALIDATION:- Break below this pattern.
Let me know your thoughts in the comments section.
Do hit the like button if you like my charts.
Thank you
#PEACE
Trade active
BTCUSDT 2 Hours, Back above the 21MA. A few hundred points retest and then continuation towards the $40.8k resistance is what I am expecting right now/
Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
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.
Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
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.