BTC Drop Base Rally
Drop Base Rally painted for BTCUSD
We see a sharp fall (Drop), followed by resistance (Base), followed by a run up (Rally), a textbook drop base rally formed.
As we can see there are many wicks in the "demand zone" showing that there is support as this level (Approx 6300), because of this it proves rather difficult to puncture below and a bounce is expected.
We see a sharp fall (Drop), followed by resistance (Base), followed by a run up (Rally), a textbook drop base rally formed.
As we can see there are many wicks in the "demand zone" showing that there is support as this level (Approx 6300), because of this it proves rather difficult to puncture below and a bounce is expected.
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.