Hello traders,
This will be a quick update on BTC:USD, It would not take long since all the key levels that were covered previously are still holding and the targets remain the same.
Firstly, congratulations to everyone who went long from our last analysis, if you checked our telegram channel you know that we rode the price from 7100 level all the way up to 7900.
As covered, the consolidation in-between 7333 and 7800 came through, and now as you can see on the weekly time-frame we fulfilled the third rejection of the 7800 level of resistance, coming back down to 7333 support which is weakened even more, and it looks like it will break any time now. Once this level breaks we'll be looking out for 6500 and 6000 levels next.
On the daily time-frame you can clearly see the multiple rejections of the 7800-7900 weekly resistance. We also have an intra-day support at 7300 (ill leave this out to keep the charts clean). 7300 is also a crucial level on the weekly time-frame as you can see, and if this level holds we could be underway to another retest of the 7900 or even extend all the way up to 8200.
No place for panic from this sudden reversal, everything seems to be going in sync with our analysis. Stay tuned to our Telegram channel for further updates.
This will be a quick update on BTC:USD, It would not take long since all the key levels that were covered previously are still holding and the targets remain the same.
Firstly, congratulations to everyone who went long from our last analysis, if you checked our telegram channel you know that we rode the price from 7100 level all the way up to 7900.
As covered, the consolidation in-between 7333 and 7800 came through, and now as you can see on the weekly time-frame we fulfilled the third rejection of the 7800 level of resistance, coming back down to 7333 support which is weakened even more, and it looks like it will break any time now. Once this level breaks we'll be looking out for 6500 and 6000 levels next.
On the daily time-frame you can clearly see the multiple rejections of the 7800-7900 weekly resistance. We also have an intra-day support at 7300 (ill leave this out to keep the charts clean). 7300 is also a crucial level on the weekly time-frame as you can see, and if this level holds we could be underway to another retest of the 7900 or even extend all the way up to 8200.
No place for panic from this sudden reversal, everything seems to be going in sync with our analysis. Stay tuned to our Telegram channel for further updates.
