BitcoinUpdated BTC/USD-Weekly analysis
Hello everybody, want to share this with you!
-On weekly chart we can see that price is moving in strong bullish direction(green circle) and we can see that price is going towards resistance zone(blue area).
-In resistance zone we can see lot of rejection and if price break that zone we can expect that zone will become support zone because in past that zone was a support zone.We have more than 15 rejections in that zone I consider that is strong support/resistance zone(blue area).
We can expect more bullish movement but we will see what price will do.
Is it going to break that zone or is it going to retest and reject?
I expect further bullish movement but that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial
-On weekly chart we can see that price is moving in strong bullish direction(green circle) and we can see that price is going towards resistance zone(blue area).
-In resistance zone we can see lot of rejection and if price break that zone we can expect that zone will become support zone because in past that zone was a support zone.We have more than 15 rejections in that zone I consider that is strong support/resistance zone(blue area).
We can expect more bullish movement but we will see what price will do.
Is it going to break that zone or is it going to retest and reject?
I expect further bullish movement but that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial
Note
On lower time frames we can see nice up trend movement.
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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.