I feel we have to retest previous resistance like each other time I have demarcated but as you can see it doesnt always have to be a quick task...
Bullish bat formed on the daily. Potential long in play off a bullish bat pattern.
Will we hold the high swing of Jan 2021 & low swing of Jan 2022. A Close above would indicate to me a high potential for a green week following. A close below could mean a lot lower levels.
A failure to gain the 40k region could result in a double bottom or a lead to a lower low also potentially creating bullish divergence on the daily RSI for the RSI traders out there. A hold above would result in a move towards the next level to gain with lower importance levels visited along the way. this would also confirm a Daily trend reversal as we would be...
Just under 8 hours left for the monthly close will we hold above or dump to the abyss... Eyes on the charts tonight for sure!
On Binance 90% + of BTC bottoms have landed on a round number before they make a move to new highs.....on the daily TF go test this theory for yourself. I have marked the bottom with yellow arrows to show the one that do. $32,917.17 is the current daily low so this theory suggests a lower low at some point although this theory isn't 100% accurate so use this...
A Brake of the broadening wedge with good volume may show good potential for up-side! Be cautious of bearish divergence on 4 hour!
$ETH It Will maybe create a 3 rising valleys finishing an ABCDE pattern then continuation to the upside! # 3 Bullish signs in 1 Chart
A respected channel for now, definatly worth keeping on the chart as possible support for future price action.