FXtrades-gp

BITCOIN: A trend CORRECTION up to 34k!

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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🟢Forex Pair:
BITCOIN /USD

Technical Analysis:
On the 27th of January 2021, the price got a strong rejection on the level at about 30.000, that pushed it up with a clear bullish impulse, breaking through the S/R zone at about 34k, reaching an interesting strong resistance zone at about 39k , level that rejected the price many times since the beginning of January 2021.
It has just re-tested the same level and the next price action will be essential to understand the next market movement.

My previous analysis:

🔴Conclusion:
The price is re-testing many times the level between 38k and 39k , without breaking it. It previously got a strong bullish impulse and I'm confident to see now a possible trend correction until the support zone at 34.5k.
That would be a short term trade but honestly, I'll be waiting for the price to reach the level 34.5k, before planning a long position that I'll update soon!


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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

Thanks man, love it
+1 Reply
FXtrades-gp Investroy
@Investroy, I'm glad of that :)
Reply
I like your idea!
+1 Reply
FXtrades-gp KlejdiCuni
@KlejdiCuni, thanks man! really appreciate
Reply
looks like we're not having a correction after all..
+1 Reply
FXtrades-gp AceintheblacK
@AceintheblacK Hi! It currently seems like that , I’ll be waiting for the end of this daily candle before to get a better confirmation :)
Reply
Quality analysis. A different perspective but I like it.

I also have something similar, check it out; Id like to hear your thoughts.
+1 Reply
FXtrades-gp AmarPearson
@AmarPearson I’m glad you liked my chart ! I’ll definitely have a look 👌
Reply
Great analysis, well done :)
+1 Reply
FXtrades-gp TopTradingSignals
@TopTradingSignals many thanks man ! Really appreciate 👌
Reply
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