Bitcoin's price is back in the top of our range 28 k 41K usd
Since my previous analysis of BTC USD, we saw that the bulls stepped back in and reacted with lot of conviction on the lower part of the range, which invalidated my bearish scenario at the time
Today, The inability to break the resistance zone of 41000 k usd with conviction has led the price to retest the mid area of our range (37k usd zone) that is now acting as support
A daily close under that price (37K) would lead to a retest of the lower part of our range (28 / 30 k area)
A daily close above (37k) would leak to a retest of the resistance area of our range
A breakout of the resistance area(41 K usd) would set the pace toward the 47K usd area
Considering the fact that we are now consolidating under the resistance of 41K usd, it could means that the bulls a re accumulating to prepare a decisive breakout
i am personnally very optimistic about a breakout of this resistance zone on the next few days considering the price action, but till it's done, we have to remain cautious and manage our risk accordingly
The content covered in this publication is NOT to be considered as investment advice.
Thank you all,
If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section.
Have a Good day and Safe trade
Butterfly .D
/Metamorphose your portfolio
Since my previous analysis of BTC USD, we saw that the bulls stepped back in and reacted with lot of conviction on the lower part of the range, which invalidated my bearish scenario at the time
Today, The inability to break the resistance zone of 41000 k usd with conviction has led the price to retest the mid area of our range (37k usd zone) that is now acting as support
A daily close under that price (37K) would lead to a retest of the lower part of our range (28 / 30 k area)
A daily close above (37k) would leak to a retest of the resistance area of our range
A breakout of the resistance area(41 K usd) would set the pace toward the 47K usd area
Considering the fact that we are now consolidating under the resistance of 41K usd, it could means that the bulls a re accumulating to prepare a decisive breakout
i am personnally very optimistic about a breakout of this resistance zone on the next few days considering the price action, but till it's done, we have to remain cautious and manage our risk accordingly
The content covered in this publication is NOT to be considered as investment advice.
Thank you all,
If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section.
Have a Good day and Safe trade
Butterfly .D
/Metamorphose your portfolio