BTC PREPARING FOR NEW HIGH?
It's been more than 3 days BTC has been accumulating (ranging) between the zones 26000-26440 (support) and 27960-27540 (resistance) since setting an ATH at 28459.84. Finally, there's a breakout of the resistance which is a good indication of a move upward unfortunately, it is too close to the ATH level at 28459.84.
So now we are touching 28459.84 for the first time since it was established and since 90% of the time, the first touch will be rejected, it's very possible to see BTC getting a rejection here but the most important thing now is to see if 27958.90-27538.82 will hold. If this zone does, it's very likely it will go up to break the ATH and reach the targets as indicated in the chart in blue.
However, if this zone is lost then BTC might go to retest 26000-26440 (support) again. Hence, all eyes on 27958.90-27538.82 and ATH.
If you like this idea, give us a a like or feel free to share your idea/comments.
So now we are touching 28459.84 for the first time since it was established and since 90% of the time, the first touch will be rejected, it's very possible to see BTC getting a rejection here but the most important thing now is to see if 27958.90-27538.82 will hold. If this zone does, it's very likely it will go up to break the ATH and reach the targets as indicated in the chart in blue.
However, if this zone is lost then BTC might go to retest 26000-26440 (support) again. Hence, all eyes on 27958.90-27538.82 and ATH.
If you like this idea, give us a a like or feel free to share your idea/comments.
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.