As I pointed out in my previous analysis I expected a test higher. Well as you probably have noticed we moved a bit and man finally some action.
We reached 9200 and got rejected which does look concerning on first sight but hey it isn't set in stone as of yet. Ofcourse the macro view isn't that bullish unfortunately but I still expect some more upside before ultimately moving down below the 9k area.
So what is going on?
We have tested the .382 , selling of a bit but looking for support around 9120 which has acted as resistance for the short term but has provided support in the past for much longer. My view isn't changed and still expect a move towards (conservatively) 9300. The view on a 9420 test is somewhat shifted but once we close 4HR candles above 9300 it is likely to hit as well.
Sum Up: -The bulls need to close 4HR candles above 9120 to maintain upside potential -9300 likely to get tested -Once we reach 9300 and close 4HR candles above 9420 is a likely target
Thanks for sharing.
With fundamentals showing strong bull run signals, I remain bullish for the long-term.
Though under a long-term bullish view, BTC exceeding 10k seems almost impossible without the daily RSI finding support at its MAs.
What do you think of the setup below?
With fundamentals showing strong bull run signals, I remain bullish for the long-term.
Though under a long-term bullish view, BTC exceeding 10k seems almost impossible without the daily RSI finding support at its MAs.
What do you think of the setup below?