reimadara

BTC to find support at 4700? Or correct to 4400-4600?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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BTC stayed above 4700 for less than 2 days the last time.

Now, if BTC manage to close daily above 4700 for 2 consecutive days, then there is a lot more buying interest this time.

By then BTC may have found some decent support at 4700 and I think we will eventually break out of 5000 from there.

But so far the burden of proof lies with bulls, 4700 up is proven to be a strong resistance area seeing that the price never held there for a long time.

But so far volume profile gives hope that we can sustain this bull run.

In case we do not hold 4700, 4400-4600 is a good buy zone that I think will hold until we attempt another all time high.
Oct 12
Trade active: Broke out above 5k. Bull run looking strong.

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