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BITCOIN | Bears in Control But Bulls Holding the Support..!!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC/USD (Update)


In 2Days Chart, Bulls Testing the KEY SUPPORT Region (9.4 - 9.6k) , (It Was Strong Resistance)

- If Hold it Then I'm Expecting Bounce Back Towards Next RED ZONE (10.6 -0 10.8k)

- If BULLS Failed to hold the Support Region Then We Might See DUMP Towards the 9k (Maybe This Week)

BTW, So far Bears in Full Control So We'd Wait For Strong Reversal .




On the Other Hand, In Bigger TF Chart, Bitcoin Bulls Have Failed to Break the KEY RESISTANCE Level (0.5 FIBONACCI)

Last time (In OCT 2019) It's Rejected it & DUMPED Hard from here. (Now Doing Same.)

If Bulls Cleared this Resistance, Next Target Will be Around 11k (FIB 0.38) But So far Looking Weak.

In My Point of View, Bitcoin Might test the 9k Region Again Before Another Bullish LEG.

If Bitcoin Lost the 9k LEVEL Support, Then It'll be first lower low, We might Back in Bearish Trend .

Keep in Mind, BITCOIN Has still in Uptrend & We'd HOLD It For Midterm (HALVING AHEAD)


In Daily Chart , Rising Wedge Has Still in Process, So Keep Your Eyes on it too..!!




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Comments

Clear explanation of the situation , Thank you .
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Faibik ValentinStragon
@ValentinStragon, Thank You Very Much for Feedback
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thanks
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@hm4i7, most welcome
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