BTCUSD established support above the cliff
The highlighted zone is so light on volume. There was a coinciding spike in short liquidations with about $55 mn shorts liquidated between Binance and Okex which may have pushed the price up. Now that it is there I was concerned given how small the volume was that there was really no support in place and price would regress to mean, but it's held.
We've also left the regression channel and closed a bullish continuation channel outside of it. My confidence in a turn around, whatever the time frame, is growing.
Now $41,722 is an established price support line. The battle today is at $42,850.
We've also left the regression channel and closed a bullish continuation channel outside of it. My confidence in a turn around, whatever the time frame, is growing.
Now $41,722 is an established price support line. The battle today is at $42,850.
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