BTC is moving along the descending resistance line in light blue which is now acting as support. If BTC reaches the light blue curve which has been acting as support since rally to 13000 we can watch for reaction to this. I've drawn three possible reactions for BTC. first, BTC bounces off and moves up sharply to test the primary resistance around 11,200. second, BTC continues to move along the curved support line which should be a slow ascending climb. third, BTC breaks the curved support line, retests primary support around 9980 and possibly drops to 9200/9300s.
I don't think BTC will be below 9700 for long before it moves up again. my buy zones are between 9650 and 9250. where are your buys zones?
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looks like option three, down was the reaction, clearly. Price landed solidly on the green support. This will be a tough price point to break for the bears. will post a new evaluation with further details.
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Price is still in support zone. next support is around 9150/9000.
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Good bounce off of support at 9350. Price moving along top of support channel in green. If it stays above 9500 for the day I think breakout towards the primary support at 10000 could be possible.
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BTC still moving nicely along curved support. Sep9 still a viable timeframe for breakout to test 13k. Although breakout would probably happen before this date because expectations seem very high currently.
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BTC testing top of primary resistance since first rally! If it holds here for a day or so it could break through and move quickly towards 12k. another case will be a decline towards 10,650.
If BTC can hold above 10,650 until the weekend we could see a huge breakout upwards.
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