BTCUSD - Holding Triangle Support. But for How Long?
Updated
Triangle support has kept price above 6.9-7k even with closes below the Kumo Cloud.
7k is a strong floor both technically and most likely psychologically as well.
Dropping below 6.9k and heading to ~6.6k zone very much plausible if breaks (see my earlier chart for the reasoning behind the 6.5-6.6k zone).
Breaking this level would breach the triangle support, Senkou Span B/Kumo Cloud support, Bollinger Band support, and probably more that I haven't drawn/don't use!
Some bearish signals on the Ichimoku Cloud outlined as well.
7k is a strong floor both technically and most likely psychologically as well.
Dropping below 6.9k and heading to ~6.6k zone very much plausible if breaks (see my earlier chart for the reasoning behind the 6.5-6.6k zone).
Breaking this level would breach the triangle support, Senkou Span B/Kumo Cloud support, Bollinger Band support, and probably more that I haven't drawn/don't use!
Some bearish signals on the Ichimoku Cloud outlined as well.
Note
Huge short squeeze!7k strong floor coming through indeed, despite the bearish signals that were outlined.
Very resilient level.
Note
News that the network fork has been called off has catapulted the price!
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