Bitcoin BTC - Heading towards a new support zone
Updated
Bitcoin broke the daily 21 and the 55, it did bounce off the psychological barrier of 10k so far, but I think an aggressive move like that will be followed by more downward pressure.
We are moving within a pennant, the question is - will it break the formation?
There is a strong support zone between 10k and the daily 100 around 9.5k that most likely will hold, but we could also see a retest of July's lows around 9.1k.
In any case I expect a profitable bounce back from one of them.
We are moving within a pennant, the question is - will it break the formation?
There is a strong support zone between 10k and the daily 100 around 9.5k that most likely will hold, but we could also see a retest of July's lows around 9.1k.
In any case I expect a profitable bounce back from one of them.
Comment
Today, we exactly hit the daily 100 and strongly bounced off from there - at the moment, let's see where we close!Comment
Just now we again hit that level from 2 weeks ago between 9.5-9.6k - looks like a double bottom opportunity at the moment. I'll cover that in the next analysis.
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