Is this the MAJOR SWING LEVEL?
Updated
Ok so now let me break it for u what I see. In order trend to continue and catch a MSL (major swing level) this movement must continue above the previous MSL in order to mark it as an actual swing. I see a lot of ppl calling it a dip well its not until it clears the in short term the levels ~36200 and then above ~40-41. As you can clearly see when the downtrend started, a failed MSL is a factor. I am leaning towards bullish for now. Lets see. Have a nice day!
Note
34'300 was denied by the Bears, for the Bulls they must see a break of ~34'400 and upper to the resistance ~35'500-36200 and only after breaking this level we can call BTC bullish again. Until then I believe 35'500 will be a perfect level for Bears to short once again.Note
As we can see from the chart, this was not a major swing level, could be even a sell off, see pattern before that on the lower swing level. Lets see
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.