Hi Traders,
Bringing all of you a BTC start of the week update! So this morning we saw a much needed rise in prices which is very positive for prices to continue bullish! Yesterday prices continued to look bearish and could've easily fallen further! Sell side volume on the Weekly chart is strong and therefore we will need to see buy side volume develop more strongly for confirmation that prices bottomed out at $47000.
On a more micro TA outlook, prices are currently just under the 200MA 1HR so the likely scenario would be that prices fall from here down to the bottom two zones which the 0.382/0.5/0.618 FIB levels sit. A rejection of these levels with buy side volume support will be a good indication that prices will push higher into the top zone.
As always if you enjoy the content don't forget to click the like button and make a comment on your opinion.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
Bringing all of you a BTC start of the week update! So this morning we saw a much needed rise in prices which is very positive for prices to continue bullish! Yesterday prices continued to look bearish and could've easily fallen further! Sell side volume on the Weekly chart is strong and therefore we will need to see buy side volume develop more strongly for confirmation that prices bottomed out at $47000.
On a more micro TA outlook, prices are currently just under the 200MA 1HR so the likely scenario would be that prices fall from here down to the bottom two zones which the 0.382/0.5/0.618 FIB levels sit. A rejection of these levels with buy side volume support will be a good indication that prices will push higher into the top zone.
As always if you enjoy the content don't forget to click the like button and make a comment on your opinion.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
