Illustrated on chart the key levels for btc/usd. The chances of bullish resumption remains high as long as we remain in bullish zone, with upside targets outlined on chart.
If we break below to neutral zone i would be very cautious to long again, unless we get back to bullish zone. A break to the bearish zone would be seriously bearish and more to come.
Note: I mean by "break" a CANDLE CLOSING. If the price breaks a level and retreat back to close the candle above or below it, then it is not a valid breakout for me.
Best
Technician
If we break below to neutral zone i would be very cautious to long again, unless we get back to bullish zone. A break to the bearish zone would be seriously bearish and more to come.
Note: I mean by "break" a CANDLE CLOSING. If the price breaks a level and retreat back to close the candle above or below it, then it is not a valid breakout for me.
Best
Technician
Comment:
We are testing this critical resistance, it is the neckline for the broken head and shoulders formation. I would like to see a break to increase our chances further.
