Hey all and happy weekend and new month!
Bitcoin is currently testing a breakout right out of a very important resistance level which can be seen on the (right) daily chart. We are above the key level but still need to break the starting wicks of the formed resistance from the 20th and 21st of May.
While on the 4H chart we have a strong and parabolic rise with the lows having strong gaps and plenty of strong green candles.
We are long BTC from yesterdays dip and currently have no specific take profit in sight.
Our technical tools have all turned bullish and we expect a breakout this weekend or in the early first week of August.
Enjoy the weekend and make sure you check out the educational videos we have on our channel!
Bitcoin is currently testing a breakout right out of a very important resistance level which can be seen on the (right) daily chart. We are above the key level but still need to break the starting wicks of the formed resistance from the 20th and 21st of May.
While on the 4H chart we have a strong and parabolic rise with the lows having strong gaps and plenty of strong green candles.
We are long BTC from yesterdays dip and currently have no specific take profit in sight.
Our technical tools have all turned bullish and we expect a breakout this weekend or in the early first week of August.
Enjoy the weekend and make sure you check out the educational videos we have on our channel!
Note
The volume structure on BTCUSD is very bullish, both on the 4H and on the 1DNote
The main resistance would be the end of volume of the current play, which is: 48319.88(seen below as a red line on the 1D chart, right chart)
Note
Focus on the 4H chart, left: Price is now retesting a support which has turned into a resistance, RSI is at 25 and we are at the first layer of the fibs which indicate buys based on our system. - We have added on to the long.
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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.
Related publications
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.