BTC ready to rally
Here we see that Bitcoin has successfully broken out of the micro-scale falling wedge pattern and the downward trend line of the macro-scale upward channel. It has retested both and so far maintained support. It is also now resting on the Fib 0.236 as support.
I would say that support looks strong at the moment and this may be the best entry point before the next leg up if we successfully flip the 0.382 which is the dreaded $53,000 strong resistance area.
I would say that support looks strong at the moment and this may be the best entry point before the next leg up if we successfully flip the 0.382 which is the dreaded $53,000 strong resistance area.
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.