Bitcoin is once again testing the trend support outlined in my previous idea. Another bounce here could easily lead to another bullish-impulse; and a break below it followed by coming back up to test and confirm the new resistance would be a signal for a longer bearish impulse coming for the next few days.
Note
After all, we finally did the retest-previous-support-as-new-resistance-and-confirm scenario and dropped below the previous 90m-chart lower-low. We can assume the next 90m wave to the upside is more likely to be a lower-high than a higher-high less we have strong bullish candle pattern emerge of course.On the 6-hour we can easily see how volatile that retest and rejection was and that on that bigger time-frame we are still in a very sideways consolidation. Breaking above 21.1k would likely lead to a massive impulse to the upside, and a break below 20k could trigger at least a short-lived bearish impulse if not more.
Note
Another major test of a trend support occurring now!Note
Note
BTC seems to be finding short-term support which will likely lead to a retest of 21k as resistance (or a higher resistance)Trade closed: target reached
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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.