COINBASE:BTCUSD   Bitcoin / U.S. Dollar


Red lines are resistance lines and green lines are support lines. When price action breaks through resistance or falls through support the color changes to indicate the change in force (support becomes resistance/resistance becomes support). Dashed lines aren't as strong as solid lines. Solid lines have been tested multiple times. Generally horizontals are always stronger than declines and inclines.

Im seeing BTC pinched between an inclined supporting trend and flat resistance at 9500.

If it gets a solid candle below the supporting trend, the trend will then become a resistance trend and BTC will be coming up against tripple resistance similar to a week ago when it dropped hard. If that happens, the next level of support I see is at 7500.

If it gets a couple solid candles above the 9500 level before it hits the downward trend (solid red) line on April 1st it has a chance of getting on top of the downward trend.

Here it is at the 1 hour. Its interesting how the price interacts with the lines. You can see how it is trapped within this wedge of support and resistance.

Here is a broader view of the current ascending resistance trend line.

We can see three times in the last year that it has been good strong Support.

BTC dropped below at the beginning of February and has been meeting consistent, strong resistance at this line ever since.
Comment: Here is a look into the future.

This appears to be the general area of movement until the end of May.
Comment: BTC has fallen bellow the supporting trend and is now headed quickly to $7500.

I'm not sure where it is going to bounce, but I know that if it hits 5.5k I would love to buy me some BTC!
Comment: So I'm seeing this as the bottom for now. There are two lines of support intersecting right where this is at. BTC will be pulled toward the labeled "Magnet" and then pushed away by the strong resistance of the three intersecting lines when it crosses over the center line. I think we are looking at the potential for some short term gains of 25% in 14 days.

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