There was much bullish movement on the market today.
The price hit the resistance at 8897 USD and is currently correcting.
Everything above 8398 USD would then be a higher low, which would break the series of lower highs and lower lows that has been established since Feb 26.
A move above resistance level could trigger a bullish continuation to the top of the short-term downward channel.
9614 USD will act as key resistance.
Since the current consensus in the market aimed towards 8k there is still a high probability that BTC will stay inside the channel.
Taking the drop of Feb24-26 in consideration, a similar drop from its fib .5 line would aim for the 8k - 7.8k area.
The price hit the resistance at 8897 USD and is currently correcting.
Everything above 8398 USD would then be a higher low, which would break the series of lower highs and lower lows that has been established since Feb 26.
A move above resistance level could trigger a bullish continuation to the top of the short-term downward channel.
9614 USD will act as key resistance.
Since the current consensus in the market aimed towards 8k there is still a high probability that BTC will stay inside the channel.
Taking the drop of Feb24-26 in consideration, a similar drop from its fib .5 line would aim for the 8k - 7.8k area.
Comment:
New low at 8150 USD.
I already bought the dip, but BTC is still not oversold on the daily. There might be some steam left.
This is crypto how I love it <3
I already bought the dip, but BTC is still not oversold on the daily. There might be some steam left.
This is crypto how I love it <3
Trade closed: target reached
See my new post for more short term details