BTCUSD - Expected rise has a little more air
After the expected local low at the June´s Pivot Point we made the clear way up after breaking the mentioned are around 8k and have for now overcome the resistance of the former top, heading now towards
Monthly R1 Pivot. There are unfortunately a couple of options, due to the fact, we are still sitting on a bearish rising broadening wedge, the chance it breaks down are not overwhelming with recent validated bullishness in Bitcoin,
but it is something we have to keep in mind. I would not be surprised if we start ranging between R2 and this Leadline for a while.
This is an update from:
Monthly R1 Pivot. There are unfortunately a couple of options, due to the fact, we are still sitting on a bearish rising broadening wedge, the chance it breaks down are not overwhelming with recent validated bullishness in Bitcoin,
but it is something we have to keep in mind. I would not be surprised if we start ranging between R2 and this Leadline for a while.
This is an update from:
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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.