BTC stays above key support - downtrend not over but close.
Summary:
1. BTC broke above the key Fib line (blue) while also breaking through the supply zone.
2. If the supply zone becomes a demand zone after a re-test or 3 -- BTC looks strong to break through the outer line of the downtrend Pitchfork (red), confirming the downtrend is over. Fingers crossed.
1. BTC broke above the key Fib line (blue) while also breaking through the supply zone.
2. If the supply zone becomes a demand zone after a re-test or 3 -- BTC looks strong to break through the outer line of the downtrend Pitchfork (red), confirming the downtrend is over. Fingers crossed.
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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.