Bitcoin broke out Bullish after a pretty shaky month where price was sought out using the same 2 zones of Support & Resistance, not much noise was being made. Now that PA is showing us some sort of Tone (Bullish) after this breakout was done, Traders are going to look at it 1 of 2 ways.
1. Bullish Breakout, Signifies a fake out thus meaning BTC's Price will drop back around $5,000
2. Price Broke-out Bullish in a Seller area (Fibonacci) thus meaning BTC will accumulate all Sell Orders, just to blow up above all Fibonacci Percentages.
1. Bullish Breakout, Signifies a fake out thus meaning BTC's Price will drop back around $5,000
2. Price Broke-out Bullish in a Seller area (Fibonacci) thus meaning BTC will accumulate all Sell Orders, just to blow up above all Fibonacci Percentages.