BTCUSD, V shape bullish recoveryHuge fresh bullish rally came on support level: 29150, historically three times 'V' shape recovery happened to this level,
and it sustained this time too. Now if somehow price back to support level, it is not going to break at sudden, huge volume accumulated compare to previous support level.
Overall trend is bearish, so respect of Resistance level is more possible, like setup could form. price can go sideways too.
(possibly not going to land again in this level.)
Sort setup possible at Resistance level.
! Strong close above 33400 should be bullish move.
Technical- Based on Support/Resistance:
- Strong Support: 29150
- Strong Resistance: 33400
! leave feedback or comment please.
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Longsupport
BTC - Time For A Dead Cat BounceBears have delivered a very powerful rejection from 8.5K down to 6K. I am not expecting the 6K level to break without a dead cat bounce first. I have taken partial profit on my short from 8.2k and opened a small long at 6.1k. My target for the dead cat bounce is between 6.8k and 7k. At that price I will close my long and add more to my short. 5k remains the target.