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Mihai_Iacob
Jun 6, 2023 6:51 AM

Bitcoin=- 25k is strong floor Long

Bitcoin / U.S. dollarBitstamp

Description

Over the weekend I've written that for a more clear bullish outlook, BTC needs to pass above 27500 zone resistance.
After a small consolidation, the price dropped hard yesterday following Binance CEO problems.
However, looking at the chart, the outlook remains bullish, with the price both above 25k important horizontal support and the ascending trend line started at the beginning of the year.
More, the drop from above 30k started in May is clearly corrective in nature with price overlapping and lacking impulse.
I remain bullish for now with more confirmation for a buy trade coming with the price above 27k

Comments
SmartNerd
next 21k then 18k and lower
Mihai_Iacob
@SmartNerd, If it breaks under 25k is bad
SmartNerd
@Mihai_Iacob, probably next week and actually it's a good thing, bigger discounts for everything,
Mihai_Iacob
@SmartNerd, now is above 25k so I'm bullish, if it will drop under I will reconsider...
SmartNerd
@Mihai_Iacob, well said, let's see what happens :)
TheCryptagon
Really enjoying your content. Keep coming with more great ideas!
melikatrader94
i have similar idea
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