BTCUSD
BTC/USD 1D, last retest is coming that I talked about earlier. Price moves on low volume should be observed and should confirm that the upcoming move will reverse upwards as fewer transactions agree on price. I think we will only reach $30,000-31,000 in the parallel channel forecast from the last top and bottom. RSI should also confirm higher lows as bearish strength wanes.
The reaction will be a pullback to 40567 where there was previous resistance. However, as we now face this for the second time and have also tested lower highs, a break above 40567 will yield an automatic reaction (AR) towards the 47010 demand zone- 51272 USD. RSI will face resistance once again as it tests the main downtrend channel and multiple price points where it has failed before.
The reaction will be a pullback to 40567 where there was previous resistance. However, as we now face this for the second time and have also tested lower highs, a break above 40567 will yield an automatic reaction (AR) towards the 47010 demand zone- 51272 USD. RSI will face resistance once again as it tests the main downtrend channel and multiple price points where it has failed before.
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.