Hi, everyone! Yesterday BTC got under the pressure of FUD, and perfect set up has been messed up. 7200 was my point of no return, but we bounced from it, made a rising double bottom and heading up for now. But the problem is, that momentum was lost and we got under one more resistance that will hold BTC on the way up. It's between 7600 and 7700. The bullish scenario that I posted previously remains intact if we will manage to close this daily candle over 7450 and chances for that is really high because we are badly oversold. RSI and STOCH RSI made a double bottom, oversold, and pointing up.
If we will go to that resistance ~7650, we should very carefully watch that level because if it will start to turn around at least a little bit - bears have a ground and 6380 can be on the table very soon because we have a big H&S with the target 6175 and neckline at 7265.
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
If we will go to that resistance ~7650, we should very carefully watch that level because if it will start to turn around at least a little bit - bears have a ground and 6380 can be on the table very soon because we have a big H&S with the target 6175 and neckline at 7265.
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//