BTCUSD - Holding Triangle Support. But for How Long?
Triangle support has kept price above 6.9-7k even with closes below the Kumo Cloud.
7k is a strong floor both technically and most likely psychologically as well.
Dropping below 6.9k and heading to ~6.6k zone very much plausible if breaks (see my earlier chart for the reasoning behind the 6.5-6.6k zone).
Breaking this level would breach the triangle support, Senkou Span B/Kumo Cloud support, Bollinger Band support, and probably more that I haven't drawn/don't use!
Some bearish signals on the Ichimoku Cloud outlined as well.
7k is a strong floor both technically and most likely psychologically as well.
Dropping below 6.9k and heading to ~6.6k zone very much plausible if breaks (see my earlier chart for the reasoning behind the 6.5-6.6k zone).
Breaking this level would breach the triangle support, Senkou Span B/Kumo Cloud support, Bollinger Band support, and probably more that I haven't drawn/don't use!
Some bearish signals on the Ichimoku Cloud outlined as well.
Comment:
News that the network fork has been called off has catapulted the price!
7k strong floor coming through indeed, despite the bearish signals that were outlined.
Very resilient level.