BTC stayed above 4700 for less than 2 days the last time.
Now, if BTC manage to close daily above 4700 for 2 consecutive days, then there is a lot more buying interest this time.
By then BTC may have found some decent support at 4700 and I think we will eventually break out of 5000 from there.
But so far the burden of proof lies with bulls, 4700 up is proven to be a strong resistance area seeing that the price never held there for a long time.
But so far volume profile gives hope that we can sustain this bull run.
In case we do not hold 4700, 4400-4600 is a good buy zone that I think will hold until we attempt another all time high.
Now, if BTC manage to close daily above 4700 for 2 consecutive days, then there is a lot more buying interest this time.
By then BTC may have found some decent support at 4700 and I think we will eventually break out of 5000 from there.
But so far the burden of proof lies with bulls, 4700 up is proven to be a strong resistance area seeing that the price never held there for a long time.
But so far volume profile gives hope that we can sustain this bull run.
In case we do not hold 4700, 4400-4600 is a good buy zone that I think will hold until we attempt another all time high.
Trade active
Broke out above 5k. Bull run looking strong.
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.
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.