sugarySeafowl61714828

sugarySeafowl61714828

Yesterday's sudden reversal to Bitcoin's ( BTCUSD ) strong rise early in the day, just below the 1D MA50 (blue trend-line) was far from ideal as it closed the daily candle in red. That brings to memory the last time that happened and was the last signal before a massive sell-off. That was on May 04 2022. As you see the price was again rejected just before hitting...

sugarySeafowl61714828

The market is testing the support and it created a double bottom with divergence. Price could not update its lows it was rejected. I expect a pullback from the main support level at 1622.50 if price rolls back to it. My target is resistance 1641.45. Traders, if you liked this idea or if you have your own opinion about it, write in the comments.