BTC Possible restest strong support and downtrend continuation
Updated
BTC currently in a falling wedge.
Was not able to break out yet.
If it won't break out soon I think it will test strong support at the .786 at 6599 USD again (grey fib level).
Break out of falling wedge does not mean that the bear market is over. Lots of resistance above it.
If the 6599 support breaks I think BTC will be headed towards at least 4400-5000; between the yellow and white fib levels.
Was not able to break out yet.
If it won't break out soon I think it will test strong support at the .786 at 6599 USD again (grey fib level).
Break out of falling wedge does not mean that the bear market is over. Lots of resistance above it.
If the 6599 support breaks I think BTC will be headed towards at least 4400-5000; between the yellow and white fib levels.
Comment
Also interesting to keep an eye on the log-chart.
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.