Bitcoin has succesfuly broken the 6500-6550 strong ressistance area by finding support on it after 6800 got denied by forming in a bear flag, so now this area can be consider as strong support area.
Bassicaly I believe everyone that follows me already know that when ressistance level is broken, it will act as support later on.
I am not fan of reading too much text in TA's so I believe you dont, even though I like to write a lot in my TA's, lets keep this one straight to the point.
So Bitcoin has drawn a pretty , which is formed by an uptrend which act as moving , and finding one ressistance level which it test few times, after test finding support on uprend, simply explained.
Currently is this Triangle pretty tight, waiting for some move, most likely to test 6800, as its not really a significant one, only 1 day big.
Take as example NANO with his recent 7 day that made over 85%, I made only 35% on this trade, but I took it gladly as greediness wipes lot of traders accounts, the best thing to do is have own strategy and keep it up under any conditions.
Last thing what I want to talk about is , as it also is uptrending and found twice the same ressistance (notice how the ressistance represent both time the 6720 level) and its suggesting that is in play.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel, you can also find there Trading patterns, my trades enters and my targets, advices, or you can ask me for a TA on demand without any fee! Invitational link is in mine description!
Hope I made your view on whats going on with Bitcoin somewhat clearer, if I see something worth to share on the chart, I will surely do an Update.
If you like this let me know by hitting that agree button, I really do appreciate every oneas it motivates by spending more time on TA´s, Thanks !
And about Bitcoin, simple.
Just keep on watching ascending support and ascending ressistance level, if any of them gets broken, it suggest heavier price action in the way channel got broken.
For example breaking ascending support level would mean breakdown if strong demand isnt seen immediately, Night!