AbbasHamzah

BTCUSD Resistance and support, more consolidation at 6 to 5 K ?

Long
BITSTAMP:BTCUSD   Bitcoin
I have been looking for the last few times that we have dropped significantly how BTC react and set up a base then break higher, I have found in most of the accumulation base structure we have established a strong resistance and support that we have tested tow or three times the most then break higher in our case here the resistance has been defined 6.9 to 7.2 K, but the support still not very clear is it 6.4 K which it is very unlikely more likely is 5.7 to 5.5 K seems a very strong resistance also the 200 WMA is about those prices as well, conclusion best case for BTC is to test the 5.8 to 5.4 K and get a good bounce to test 6.9 again then pull back to 6.4 to 6 K support and test and break the 6.9 to 7.2 K resistance, please let me know what do you think in the comment section.
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