BTC: The Support Zone Mush Hold!
Updated
It seems like the price reacted to the news of the Iran attack on Israel, went down, and retested the bottom of the support zone at 60.6k. The price has since bounced, and a massive CME gap has been left open all the way at 67.4k. The previous CME gap at 64k was filled, and the new gap at 67.4k is expected to get filled as well sooner rather than later.
Currently, the price is just oscillating between the resistance zone and the support zone. These zones are extremely important, and if they are breached, the price is likely to remain above or below the zone for a period of one to two months. It is advisable to pay close attention to these zones at present.
If the price breaks the resistance zone, a move to 80k will likely happen! But if the price breaks the support zone, then a move to the 52k-region is expected!
Currently, the price is just oscillating between the resistance zone and the support zone. These zones are extremely important, and if they are breached, the price is likely to remain above or below the zone for a period of one to two months. It is advisable to pay close attention to these zones at present.
If the price breaks the resistance zone, a move to 80k will likely happen! But if the price breaks the support zone, then a move to the 52k-region is expected!
Note
If the support breaks, then we are going down fast! So keep an eye on it!Note
I would stay away from BTC atm. DXY looks bullish and that's not a good thing for BTC
Experience our top-tier setups with our Premium Group for only 129$ Lifetime membership!
🎖Telegram: t.me/MBM_786kr🎖
🎖Telegram: t.me/MBM_786kr🎖
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.