Pattern – Range, seller test. Support – 62,000 area Resistance – 73,000 area
Hi, traders; thanks for tuning in for today's update. Today, we are looking at BTC on the daily.
With sellers continuing to check buyers, it continues to look like we could see a new move at support. But for now, buyers continue to hold firm from around the 62,000 area.
We have run over a few scenarios. Could we see a move-through support to test the next lower Fibb point? Or will we see support contnue to hold the current range pattern?
60k bounce is holding steady 24hr later above 63k. Got a signal on my 30m strategy, just after the 60k touch. Not sure how far the doom and gloom from a new all time high, followed by 20% correction goes. Historically, a 14- 26% correction after new highs is expected. 60k was that zone. If we don't make new local lows below it, following 72hrs, its likely the down move was about bull run correction that was/is expected. Still holding my 61480 long. Its been 24hrs. Interesting capitulation right into the halving.