BITCOIN: Will the BTCUSD reach again the 42k?
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🟢Crypto Pair:
BTC/USD
⚪Technical Analysis:
Since the 5th of January, the Bitcoin got a strong bullish impulse ended on the 8th of January with the maximum price at around 42k, few days of consolidation and the price heavily collapsed again until the level at about 30229.04, area where we can also find a strong daily support!
Then the price started a new uptrend reaching an interesting resistance level at about 40000, but not able to retest and break the previous price at 42k.
The price got a clear rejection on the resistance zone and collapsed one more time until the level at about 34000.
As we can see the market is clearly creating an interesting symmetrical triangle pattern and it's perfectly following and bouncing on its S/R levels.
🔴Conclusion: ✔️
The Bitcoin is usually an interesting market, full of news everyday, I'm confident to see the price retests the previous level at about 42k, by the way I'd wait the breakout of that pattern before to eventually plan any long position on this trade
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly,
Gianni
🟢Crypto Pair:
BTC/USD
⚪Technical Analysis:
Since the 5th of January, the Bitcoin got a strong bullish impulse ended on the 8th of January with the maximum price at around 42k, few days of consolidation and the price heavily collapsed again until the level at about 30229.04, area where we can also find a strong daily support!
Then the price started a new uptrend reaching an interesting resistance level at about 40000, but not able to retest and break the previous price at 42k.
The price got a clear rejection on the resistance zone and collapsed one more time until the level at about 34000.
As we can see the market is clearly creating an interesting symmetrical triangle pattern and it's perfectly following and bouncing on its S/R levels.
🔴Conclusion: ✔️
The Bitcoin is usually an interesting market, full of news everyday, I'm confident to see the price retests the previous level at about 42k, by the way I'd wait the breakout of that pattern before to eventually plan any long position on this trade
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly,
Gianni
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