Bitcoin realized our first scenario that I noted last week 👇
Here's what I see at the moment:
First of all, looking at the 4H chart, the price touched the 200 MA and bounced off it. The daily chart shows an engulfment pattern where the green candle overlaps the red candle with its large body.
And also after filling the local imbalance zone, we see another confident green candle up.
This indicates prevailing buyer strength and I would expect further upside continuation.
Of course, we can fill another local imbalance level around 65600 with a subsequent exit to the upside. The price may walk around the ATH area, but I don't think we'll be able to move up much when it's broken, we'll probably stay somewhere in this range.
I'll keep you updated.
LIVEKroumi
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Medvejellegű
Here are 3 key levels of Bitcoin's decline:
1) The first zone is 61,000 - this is where the big support line + 0.5 Fibonacci line is located.
2) The second zone is 59,000 - it can be reached in case of a breakthrough of the previous level.
3) The third zone is 57,000 - is the most dangerous because if it is broken, the market could fall even more.
So far it doesn't look too bad and I don't think we'll go below 60,000. In the extreme case, it would be good to touch the first line, as the moving average is located in that area (MA200), and then expect a reaction from it.
#HotTrends #BTC
1) The first zone is 61,000 - this is where the big support line + 0.5 Fibonacci line is located.
2) The second zone is 59,000 - it can be reached in case of a breakthrough of the previous level.
3) The third zone is 57,000 - is the most dangerous because if it is broken, the market could fall even more.
So far it doesn't look too bad and I don't think we'll go below 60,000. In the extreme case, it would be good to touch the first line, as the moving average is located in that area (MA200), and then expect a reaction from it.
#HotTrends #BTC
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