Hello dear crypto friends, grandpa BTC is currently trying to get the follow-through out of the Equilibrium between $11k and $10,5k. We saw a break-out with very low volume, which meens caution.
Should the bulls head higher, there is clear previous S&R zone coming in at the $11,5-$12k region, which was huge resistance on the way down form $20k All Time highs:
So conclusion: Should the bulls not be able to break above $12k with conviction, this would propel the probability for a reversal. In that case, obviously we have to look out for reversal patterns/fake-outs.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Should the bulls head higher, there is clear previous S&R zone coming in at the $11,5-$12k region, which was huge resistance on the way down form $20k All Time highs:
So conclusion: Should the bulls not be able to break above $12k with conviction, this would propel the probability for a reversal. In that case, obviously we have to look out for reversal patterns/fake-outs.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
