Bullish Confirmation?
Yesterdays analysis that was published relied mostly on support and resistance levels but I have come to realize that pherhaps, atleast currently BTC has had a hard time respecting support and resistance level and favoring trend lines.
Today's possible scenarios are still looking bullish for the most part. Trend line marked 'Neckline' has served as a very strong support and resistance in the last 2 weeks.
Yesterday, we tested that same neckline and today we are testing it again, if it holds up without breaking through, we'll have a double bottom, and then BTC will probably touch the higher trend-line at 7.8kish area. We may have a retracement before then and test the neckline of the double bottom which will pherhaps be more confirmation of an upside push if that too holds up.
Today's possible scenarios are still looking bullish for the most part. Trend line marked 'Neckline' has served as a very strong support and resistance in the last 2 weeks.
Yesterday, we tested that same neckline and today we are testing it again, if it holds up without breaking through, we'll have a double bottom, and then BTC will probably touch the higher trend-line at 7.8kish area. We may have a retracement before then and test the neckline of the double bottom which will pherhaps be more confirmation of an upside push if that too holds up.
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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.