BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC / USD

BTC still inside descending channel
It was really boring phase inside this range

What next ? Can Breakout this time or dump again ?
According to chart BTC has this time a higher chance to Breakout because this is the 5th time to test resistance and potential inverse head and shoulders

But take care because if rejected hard like every time it can drop below 30k this time

Important Supports :
1st : between 34.8k - 33k
2nd : 30k-29k (potential lower low)

Important Resistances :
1st : between 38k-39k
2nd : between 41k-42.5k (daily close above this bulls will have the upper hand)

Today is weekly close which is very important for watch

What can we advice : extended patience .. opportunites are endless but your money not

Good luck every one and have nice weekend
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Comments

Lovely interpretation, thanks!
+1 Reply
Very good content and explanation.

Keep them coming :)
+1 Reply
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as usual best analyst in tradingview... keep up
+1 Reply
@ArielFr thanks much for your feedback ..thanks for support
Reply
potential short term push up for sure. Will see how the higher time frame ends up developing :) thx
+1 Reply
Amazing setup thanks
+1 Reply
@djent welcome 🙏
Reply