$BTC Daily Update$BTC #BTC $22,750 key support tested during the weekend. $23,713 resistance in effect currently testing, $23,479 current support. Bullish engulfing on 1D close. Requires follow up from today's close.
Btcshorts
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Failed Inverted H&S in BTCBTC made an inverted head and shoulder on the 4H timeframe, however, it looks like the
pattern has failed to breakout on the upside.
As long as the price stays in the range defined by the two green lines, we are good.
However, if we break below the channel, expect the alt coins nuke pretty hard.
BTCUSD facing little Resistance BTCUSD facing little Resistance at this place, weekhands might get stopped here and next leg up will be more Fast. Let's see how things panout.
BTC/USD(COINBASE)As stated in the previous article last week, if the resistance level $4200+ is not broken then we would hit the price around $3500 range.Hence it tested the $3478 price level after a drop of 15% this week.
Bullish Case:
It needs to hold the $3400-$3500 support level and break the $4200 level in the coming days to confirm bullish momentum otherwise we might see the <$3000 level in the coming weeks.
Bearish Case:
It has tested the $3500 price level recently and bounced to $3670 level due to the news from the Russia investing into Bitcoin.
The bounce(surge) looks weak(less buying volume) and we might see <$3000 level in the coming days/weeks if the $3200 support level is broken.
Note:It can also range between $3200-$4200 level for few days before making significant move up or down.
