$BTC, Is It Over....
Daily
Looking at our trend timeframe we see price has found support at $6,000, as momentum has shotes towards the upside. A daily close above our aggressive downtrend shown and we should see BTC push towards $7,500. It is at the $7,500 level we will find out of BTC is back to being bullish, or if we will e rejected and continue falling towards $5,000.
4Hour
Shifting over to pattern timeframe we see BTC has formed a double bottom at our $5,800 sport level, momentum has radical shifted towards the upside. 4Hour showing we have already closed above our trendline and we should be seeing push towards the upside this following week. Resistances at $7,000 / $7,200 / and $7,500, should not be falling towards $5,000 until we have reached one of these levels first. Depending on how much momentum we pick up we may hit all 3.
Related publications
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.