Long

BTCUSD - $11,200-$11,400 support explained

By NeoButane

Updated

Volume tapering off, a break under $11,200 can be a potential freefall.

Note

Double top on the 12hr candle close.

On a smaller time frame, bearish divergence is not fully realized yet on indicators.

Note

Bullish pullback on the longterm support/resistance horizontal line (from January) with mostly only bottom wick and possible crossovers on indicators. Currently sitting on 100EMA, the last time this was broken we fell through the .618 extension.

A safe entry is now with a stop loss at $11,200 if we take into consideration the pullback that will come after we break through $11,400.

NeoButane

My published indicators: tradingview.com/u/NeoButane/

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