BTC - Can move lower to touch the bottom Bollinger Band at 8520

BITMEX:XBTUSD.P1440

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

⋅ May 24, 2020 5:04 PM

BTC - Can move lower to touch the bottom Bollinger Band at 8520 - This is cancelled with a move above 9340

Comment

⋅ May 24, 2020 5:06 PM

closing back above 9100 also puts BTC back in the upward moving channel

Comment

⋅ May 24, 2020 5:12 PM

however there is a large sell order at 9100 which may give BTC some challenges

Comment

⋅ May 24, 2020 6:01 PM

note also that BTC is currently still making higher lows which is still bullish and if BTC remains above 8520 its still bullish

Trend Analysis

Comments

DulySinner

⋅ May 24, 2020 11:25 PM

Thank you.

Miamicane1

⋅ May 24, 2020 6:06 PM

Thanks for constant updates

Miamicane1

⋅ May 24, 2020 5:42 PM

Thank you for your expert analysis and commentary. Hope you get some down time today and tomorrow to enjoy some great Napa wines. Stay safe

mycotoxin

⋅ May 24, 2020 5:46 PM

@Miamicane1, thanks and you to - The weather is going to be excellent tomorrow - nice and warm

alienteck

⋅ May 24, 2020 5:41 PM

Your friend Bart seems to have gone for lunch.. and he took his buy wall with him.. dang.. Didnt know people were this scared about buying.. or selling.. so buy a little and sell a little..

revorevo

⋅ May 24, 2020 5:21 PM

cant we drop way lower since were about to fall out of the channel

mycotoxin

⋅ May 24, 2020 5:44 PM

@revorevo, if BTC falls below the 8520 level then thats an issue as it becomes a double top with drop to the 6800 area - but BTC is currently still making higher lows which is still bullish - so as long as BTC remains above the 8520 area its still bullish