Good day Traders and investors,
Bitcoin at the moment is sitting above VERY CRITICAL Bull market support band. In my opinion, this support needs to hold it there is going to be another leg up.
I want to add this is likely the last time it will hold this line as support. It will not play such a big roll in the future other possibly serving as resistance to the tops or top.
Please keep in mind I as talking about closing above support, so... yes it can wick down. Weekly and monthly closes are very important. If this level is lost with a monthly close, then I would call t his bull run over. Yes, it's that important.
The top shows the entire trend line, and on the bottom is the same line, just zoomed in o the daily.
Please feel free to ask or add anything down below
like and share. Follow me on other socials linked in the BIO.
Kind regards,
WeAreSat0shi
Bitcoin at the moment is sitting above VERY CRITICAL Bull market support band. In my opinion, this support needs to hold it there is going to be another leg up.
I want to add this is likely the last time it will hold this line as support. It will not play such a big roll in the future other possibly serving as resistance to the tops or top.
Please keep in mind I as talking about closing above support, so... yes it can wick down. Weekly and monthly closes are very important. If this level is lost with a monthly close, then I would call t his bull run over. Yes, it's that important.
The top shows the entire trend line, and on the bottom is the same line, just zoomed in o the daily.
Please feel free to ask or add anything down below
like and share. Follow me on other socials linked in the BIO.
Kind regards,
WeAreSat0shi
Note
Trade active
Support broken, what next? is it over or a bounce after this reset? Regaining this support line will for sure be bullish, it it gets rejected, then it could mean lower prices could be coming.Note
BITCOIN BROKE THROUGH THIS LONG TERM SUPPORT, WHAT NOW?Note
BOUNCE FOR NOW. LETS SEE WHERE IT GOES AND HOW IT REACTS TO THIS SUPORT LEVEL IF AND WHEN IT REACHES ITNote
Yes CKB wahoo I agree. We are in distribution and rotation phase.Note
Zoomed outNote
Is the MVRV Z score still relevant? So far there is no reason not to trust it. It says there should be another move leftNote
Is this really still possible? Note
Note
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Video analysis youtube.com/channel/UCReEfN4Czp4az1MvpkL47TQ
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Please follow me on more socials for further analysis
Video analysis tiktok.com/@wearesat0sh1
Video analysis youtube.com/channel/UCReEfN4Czp4az1MvpkL47TQ
Video analysis tiktok.com/@wearesat0sh1
Video analysis youtube.com/channel/UCReEfN4Czp4az1MvpkL47TQ
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.