#Bitcoin short and long term opinion
#Bitcoin Brice today bounce to approx. 8950.
Just as expected from my previous post, we bounced off the 50% fib levels nice support over there. Bulls absorbed all the sellers in this area.
Today is a perfect bounce on the weekly and daily time frames. Not a very definite confirmation yet that the trend changed based on the amount of resistance we need to break up ahead. If we close over 9200 this week, I'd be more bullish and test higher around 9500. if we close below 8450-8400, I'd be more bearish and likely go lower 8000-7700 region.
At 7700, I'd be Supper Bullish because, on higher time frames, I expect a bounce in this area.
Note: So fat the H&S and C&H patterns are still in play.
Major support Levels: Major resistance levels:
1️⃣ 8300.0 1️⃣ 8920.0
2️⃣ 8200.0 2️⃣ 9500.0
3️⃣ 8750.0 3️⃣ 9300.0
4️⃣ 8250.0 4️⃣ 9100.0
Not investing/trading advice, it's just my opinion.
Trade Responsibly
KZ
Just as expected from my previous post, we bounced off the 50% fib levels nice support over there. Bulls absorbed all the sellers in this area.
Today is a perfect bounce on the weekly and daily time frames. Not a very definite confirmation yet that the trend changed based on the amount of resistance we need to break up ahead. If we close over 9200 this week, I'd be more bullish and test higher around 9500. if we close below 8450-8400, I'd be more bearish and likely go lower 8000-7700 region.
At 7700, I'd be Supper Bullish because, on higher time frames, I expect a bounce in this area.
Note: So fat the H&S and C&H patterns are still in play.
Major support Levels: Major resistance levels:
1️⃣ 8300.0 1️⃣ 8920.0
2️⃣ 8200.0 2️⃣ 9500.0
3️⃣ 8750.0 3️⃣ 9300.0
4️⃣ 8250.0 4️⃣ 9100.0
Not investing/trading advice, it's just my opinion.
Trade Responsibly
KZ
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