BTCUSD, V shape bullish recovery
Huge fresh bullish rally came on support level: 29150, historically three times 'V' shape recovery happened to this level,
and it sustained this time too. Now if somehow price back to support level, it is not going to break at sudden, huge volume accumulated compare to previous support level.
Overall trend is bearish, so respect of Resistance level is more possible, like setup could form. price can go sideways too.
(possibly not going to land again in this level.)
Sort setup possible at Resistance level.
! Strong close above 33400 should be bullish move.
Technical- Based on Support/Resistance:
- Strong Support: 29150
- Strong Resistance: 33400
! leave feedback or comment please.
Image-
and it sustained this time too. Now if somehow price back to support level, it is not going to break at sudden, huge volume accumulated compare to previous support level.
Overall trend is bearish, so respect of Resistance level is more possible, like setup could form. price can go sideways too.
(possibly not going to land again in this level.)
Sort setup possible at Resistance level.
! Strong close above 33400 should be bullish move.
Technical- Based on Support/Resistance:
- Strong Support: 29150
- Strong Resistance: 33400
! leave feedback or comment please.
Image-
Note
Respected Resistance: 33400, Bearish Sign: Yes
Trade active
Trade closed: stop reached
Note
Price moving sideways, accumulation phase.
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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.
Related publications
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.