Leo_Khall

The key to break though $6,350 within a ten-day-sideway

Long
BITSTAMP:BTCUSD   Bitcoin



The key to break though $6,350 within a ten-day-sideway

BTC has its strong backlash of buying at the bottom of the range, which was formed on March 23.

There is a possibility that it will go beyond $6350 in the very middle of the range from $5800 to $6900.

It is assummed that it will go over the top of the range. If so, the price will touch down the supply line, where the price dump occured, beyond the short-term trend line.

Should the current rise ends within the now-on position and diverges from $5,800 at the lowest , a new supply line for $4,850 should be confirmed again.

The 200-week moving average, which rises slightly, is at around $5,580.





Weekly price pattern has its form of a Contracting triangle.

Bull Run will go with the sign of breaking through the top of the declining convergence.
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.