Get started
clydeuscope

BTCUSD decision time

Bitcoin (BITFINEX:BTCUSD)  
clydeuscope Updated   
BITFINEX:BTCUSD   Bitcoin
Supply and Demand Fibonacci Pennant Bitcoin (Cryptocurrency)
3
0
supplyanddemand fibonacci pennant bitcoin
Breaking above 2,800 would be easy as this zone has been revisited 11 times (see 1hr TF).
Just need more buy volume to confirm the breakout from this bullish pennant .

If BTCUSD 0.00% breaks out from the pennant , it could retest 3,000.
If it breaks down below the pennant , it could revisit 2,600 and bounce back up again.
Comment:
Bitcoin broke down from the pennant. Retesting 2600 price levels. If demand is high on that level, there could potentially be a reversal.

Watch for the price action in the coming hours. Swings are going to be huge.
Comment:
If BTCUSD moves below support at 2600, then next support would be 2550. If it goes lower, support could settle near the upward trend line.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.