I my opinion BTC is about to go higher after what seemed to be a corrective move. However, I don't trade crypto, this is just me looking at the charts and price action, every market has its behavior.
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Bulls need to keep the momentum. Breaking below the white line would potentially open doors for more bears.
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I wouldn't buy BTCUSD at the moment... One support has been broken and this could bring more bears in the market.
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Bulls regaining control. Ultimately, as long as price is about the white line, bulls are in control
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Support forming...
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Breaking out...
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Weakness again. Seems like bulls are failing at their attempt to break higher...
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Breaking support levels...
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Dip bought...
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Dropping slowly...
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Exactly a month ago I mentioned that an important support level was broken and more bears would enter the market, BTC was trading at 70000, and now here we are.
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Support and resistance levels are so important, once any important level is broken, you should adapt to what the market is doing and not stick to your bias. I noticed an important support level being broken and I pointed it out right here. Hopefully some followed the analysis and made a profit from it.
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