BTC May Retest Weekly High!
Updated
Good Morning!
Bitcoin has formed a double bottom pattern and may look to regain level of $23,250. If break and close happens at that level, I predict BTC to rise back to weekly high, because it would be the next strong level of influence. Price recently closed over 2 Weighted Moving Averages, that just so happened to also cross... That gives indication, that the bulls are still here and we could breakthrough our recently found ceiling. Price had a hard time closing under $22,850, so that would be the area I look out for. If close happened below that before trade initiation, then the setup would be mildly invalid.
Whats your ideas on BTC?
Like or Comment if this analysis provided value to you
-Mr.Pipzz
Bitcoin has formed a double bottom pattern and may look to regain level of $23,250. If break and close happens at that level, I predict BTC to rise back to weekly high, because it would be the next strong level of influence. Price recently closed over 2 Weighted Moving Averages, that just so happened to also cross... That gives indication, that the bulls are still here and we could breakthrough our recently found ceiling. Price had a hard time closing under $22,850, so that would be the area I look out for. If close happened below that before trade initiation, then the setup would be mildly invalid.
Whats your ideas on BTC?
Like or Comment if this analysis provided value to you
-Mr.Pipzz
Trade closed: target reached
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