BTC Lacks support above 12000 - due for retracement
BTC achieved a solid base of value support in the 10700 - 11500 zone, price movement above is weak and is due for a retest to the accumulation range
Note
After achieving a buying climax at 19500 short-term top is in, there is too little support below. Probability to the downside with short support levels 16000 then 14000 and finally I see good support at 11500 to 12000Note
Initial drop to 16000 resulted in automatic rally however probability to retest 14000 increasing as price meets resistance each time at 19500'sTrade closed: target reached
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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.