The formations, support and resistance levels are indicated in the chart.
I expect to bounce from the grey area because it worked for 4 times as a strong trend line.
There is a gap between 51200 and 52800. BTC may fill this gap by bouncing. I also expect a false breakout in any of support lines and trend lines because I see this price movements as a retreacement before the big rally. The reason I think in that way is that BTC has been accumulating for almost 2 months.
By the news of that Tesla has suspended vehicle purchases using BTC, this situation may be aimed intentionally.
Do not rush to take a position. Loosing %2-3 profit is worth to take safer position.
I expect to bounce from the grey area because it worked for 4 times as a strong trend line.
There is a gap between 51200 and 52800. BTC may fill this gap by bouncing. I also expect a false breakout in any of support lines and trend lines because I see this price movements as a retreacement before the big rally. The reason I think in that way is that BTC has been accumulating for almost 2 months.
By the news of that Tesla has suspended vehicle purchases using BTC, this situation may be aimed intentionally.
Do not rush to take a position. Loosing %2-3 profit is worth to take safer position.
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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.
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.