I have no open trade right now. I stay at the sideline. The price of Bitcoin still has no direction. While I expected after breaking the 10128 support level two days ago that the down movement will get more momentum, the opposite was true. Will BTCUSD follow the blue curve? Will there be an outbreak on the upper side of the channel in a few days?
Will BTCUSD break the blue curve and continue its slow descent to 5511?
The Pivot Point system reflects this undecided scenario as support and resistance levels are close together. Pivot Point is at 9568.
Will BTCUSD break the blue curve and continue its slow descent to 5511?
The Pivot Point system reflects this undecided scenario as support and resistance levels are close together. Pivot Point is at 9568.
Note
Right now, the price of the Bitcoin touches the blue curve. Will it break through and head down to 5511? Will the curve hold and send Bitcoin to new highs above the red dashed upper border line of the channel? Soon, we will know. Note
BTCUSD is still looking bullish. It is still above the blue curve. This provides hope for Bitcoin's price moving further up. Note
As long as the blue curve is not crossed by BTCUSD, the scenario remains bullish. 
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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.