How many times can you smash a glass floor until it breaks? The answer: depends on the strength of the glass. The glass floor that I am talking about is the support at $37,766. From the span of Feb, 27th to March, 14th we basically tipple bottomed here. Fast forward to today we have wicked down to this level 4 days ago and are approaching it again.
Can this glass floor hold? Does this glass floor sit way up on a skyscraper?
I can't answer if it will hold or not. I do know that this level is key for me personally, because I believe it sits way up there with a drop that Bitcoin better have a parachute for. In other words we are at trend changing support levels. Breaking this support will paint a lower low and technically we can come down to $37,100 which still would be pretty ruff.
Now if the glass floor holds... that's another story. Making this support confirmed once again will give huge optimism across the market. The bullish case is there, we're siting at the bottom of the channel with bullish divergence, low RSI and momentum on the MACD that's just chilling there.
I'm personally excited to see how this plays out!
Can this glass floor hold? Does this glass floor sit way up on a skyscraper?
I can't answer if it will hold or not. I do know that this level is key for me personally, because I believe it sits way up there with a drop that Bitcoin better have a parachute for. In other words we are at trend changing support levels. Breaking this support will paint a lower low and technically we can come down to $37,100 which still would be pretty ruff.
Now if the glass floor holds... that's another story. Making this support confirmed once again will give huge optimism across the market. The bullish case is there, we're siting at the bottom of the channel with bullish divergence, low RSI and momentum on the MACD that's just chilling there.
I'm personally excited to see how this plays out!
Comment:
The glass floor is still intact.
Comment:
Support has been held so far with a bullish engulfing candle!