Looking at the broader picture of Bitcoin price movements (1d) that is worth saying that yesterdays' drop signified the confirmation of the downwards channel lasting for 4-month.
Interestingly, the drop below $7500 coincided with the daily maximum of Bakkt trading volumes.
Anyway, that is not what the post is about.
What we have currently is $7400-$8500 neutral diapason with several signoficant support & resistance lines marked as price target.
$5600 acts as a final bearish target, while $10400 is a bullish final target for now. The consolidations and retests are expected at the strong levels zone, including downwards trend lines (yellow & green) that, supposedly, will contribite signoficantly to the price dynamics.
Interestingly, the drop below $7500 coincided with the daily maximum of Bakkt trading volumes.
Anyway, that is not what the post is about.
What we have currently is $7400-$8500 neutral diapason with several signoficant support & resistance lines marked as price target.
$5600 acts as a final bearish target, while $10400 is a bullish final target for now. The consolidations and retests are expected at the strong levels zone, including downwards trend lines (yellow & green) that, supposedly, will contribite signoficantly to the price dynamics.
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.