Bitcoin's breakout (Update)
Hello guys!
As I predicted yesterday, Bitcoin fell back on the upper band of the channel and confirmed a breakout.
The band and the static support level pushed the price back up and helped it pass the resistance levels.
Right now, we have two more resistance levels on the way up, and it seems one of them has slowed the price down.
If the price falls back down, there will be local support on the way down to hold the price up, and if the price continues to fall back inside the channel, then it was a fakeout, and the support level inside the channel will probably hold the price.
I have only labeled one price range as the next resistance for TP, which is, of course, in the case of the price pumps once more.
I will update this chart with the next resistance and support levels once the price gets out of this price zone.
Let me know what you think. I would love to hear your ideas.
Good luck!
As I predicted yesterday, Bitcoin fell back on the upper band of the channel and confirmed a breakout.
The band and the static support level pushed the price back up and helped it pass the resistance levels.
Right now, we have two more resistance levels on the way up, and it seems one of them has slowed the price down.
If the price falls back down, there will be local support on the way down to hold the price up, and if the price continues to fall back inside the channel, then it was a fakeout, and the support level inside the channel will probably hold the price.
I have only labeled one price range as the next resistance for TP, which is, of course, in the case of the price pumps once more.
I will update this chart with the next resistance and support levels once the price gets out of this price zone.
Let me know what you think. I would love to hear your ideas.
Good luck!
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