Nico.Muselle

BTCUSD - coiling up for a larger move?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
G'day folks!
Following my previous analysis where I said that BTC would find support and then go up, we did exactly that, although a little bit lower than the level I expected. We actually traced down to the low of the candle that started that move, not the open. (Details ...)

Now we have see a move up and it seems that we are finding resistance under similar circumstances, the start of the candle that took us down is now playing resistance for the current move up ...

This way, BTC is trading in an ever decreasing range, coiling up for a bigger move. Will that move be up or down?

Most people seem to think that it should be up, and I would certainly hope that it does, but I do not exclude a test of the 9.2k level as I outlined previously.

What do you think? Leave your comments below!

PS: Don't you just love the new gradient background option? I call this background "Raspberry Velvet" :D

#TradeSafe #DYOR #NFA

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.