BITCOIN Bounced in familiar territory!
Actualizado
BTC just broke out of a triangle on th 1h BTCUSDT chart.
We Bounced in the lower support region which held for the last month or so since the december 4 crash.
I marked our resistance levels on the chart:
1: At about 48k is where the 200 Day SMA is right now, BTC has been below it since Dec. 29 and got rejected multiple times since then when BTC tried to rally.
2: Right above between 48.250 and 48.600 is the Golden pocket of the Fibonaci retracement of the current trend.
3: We have the Bull market Support Band formed bythe 20w SMA (Pink 53k) and the 21w EMA (Green 51k)
Those levels have proven to be tough resistances for over a month now, and in combination with many other bearish factors and idicators, I still see lower price levels for Bitcoin befre we break the current downtrend.
See my previous posts for further details about my view point and targets.
Thanks for your time!
Show me some ❤and leave me a comment or like.
And if you can't get enough, hit the follow button!
Happy Trading! ✌❤📈
We Bounced in the lower support region which held for the last month or so since the december 4 crash.
I marked our resistance levels on the chart:
1: At about 48k is where the 200 Day SMA is right now, BTC has been below it since Dec. 29 and got rejected multiple times since then when BTC tried to rally.
2: Right above between 48.250 and 48.600 is the Golden pocket of the Fibonaci retracement of the current trend.
3: We have the Bull market Support Band formed bythe 20w SMA (Pink 53k) and the 21w EMA (Green 51k)
Those levels have proven to be tough resistances for over a month now, and in combination with many other bearish factors and idicators, I still see lower price levels for Bitcoin befre we break the current downtrend.
See my previous posts for further details about my view point and targets.
Thanks for your time!
Show me some ❤and leave me a comment or like.
And if you can't get enough, hit the follow button!
Happy Trading! ✌❤📈
Nota
Decline in volume while trying to hold this trendline on the 1h
Nota
We broke below the trendline on the 1h so far failed to build support.
Could only be a wick on the 4h, keeping an eye on it.
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