A possible spring and test confirmation may indicate a bullish reversal for BTC. Notice the volume in both the Selling Climax and Spring events.
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We may have confirmation of triple test up before reaching the last previous support. Keep an eye out for these moves and trade accordingly.
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New scenario forming, eyes open for more price action in the support area.
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Strong resistance in T4. If we do not manage to consolidate even slightly in T5, we may have to begin to contemplate new scenarios, might be time for going in the cave and hunting those bears out.
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With BTC now clearly in the LPS area, we can hope for three different bullish scenarios. BTC is a very volatile asset class and you should always consider several possible outcomes. Happy trading.
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Fibonacci levels for the three bullish scenarios that may play out.
Trade wisely.
Trade wisely.
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T5 has held up well for the time being. We shall see if we move up towards LPS zone and consolidate, or if we retest back down.
Happy trading.
Happy trading.