Hello my friends.
I am not convinced that correction is done for Bitcoin.
But I see a short term target around 64k before the next main market decision.
I am remaining cautious but I can not ignore VPVR indicator signals.
Also I can not ignore a bullish pattern on 1 hour time frame which is an
Inverse head and shoulders.
Important level to hold at the moment of posting, is 59400.
In the upcoming hours I would love to see some volume coming in for bulls
to be able to confirm Inverse Head and Shoulders.
I am paying attention to the volume because this kind of pattern requires
volume to be able to play out and makes price pump to the upside.
I am trusting as I said and above the significant support based on VPVR (59400 we have the biggest volume in the past days)
and I am trusting the significant resistance based on VPVR again, where is the area that I will look to see if we will get
rejected or not.
At last I need to mention that at 64k resistance, bitcoin is yet in bearish continuation pattern because it will continues to
create lower highs. (A reason that can turn the price in the downside from the area of 64k). So if we want to see a changing
of trend, bitcoin is must to break 64k - 65k and to create a new higher high.
Resume:
Short term bullish with target 64k
64k - 65k area of market decision and trend decision.
Your comments are appreciated.
Have a nice day and good luck with your choices.
I am not convinced that correction is done for Bitcoin.
But I see a short term target around 64k before the next main market decision.
I am remaining cautious but I can not ignore VPVR indicator signals.
Also I can not ignore a bullish pattern on 1 hour time frame which is an
Inverse head and shoulders.
Important level to hold at the moment of posting, is 59400.
In the upcoming hours I would love to see some volume coming in for bulls
to be able to confirm Inverse Head and Shoulders.
I am paying attention to the volume because this kind of pattern requires
volume to be able to play out and makes price pump to the upside.
I am trusting as I said and above the significant support based on VPVR (59400 we have the biggest volume in the past days)
and I am trusting the significant resistance based on VPVR again, where is the area that I will look to see if we will get
rejected or not.
At last I need to mention that at 64k resistance, bitcoin is yet in bearish continuation pattern because it will continues to
create lower highs. (A reason that can turn the price in the downside from the area of 64k). So if we want to see a changing
of trend, bitcoin is must to break 64k - 65k and to create a new higher high.
Resume:
Short term bullish with target 64k
64k - 65k area of market decision and trend decision.
Your comments are appreciated.
Have a nice day and good luck with your choices.
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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.