On March 27th the buyers are making a second attempt at moving prices to a new high but at the very least testing the previous high. This is the 2nd attempt from the new high made at around $61,000.
There is a 60% chance or better that they will succeed. Here's why: March 25th was a sell climax bar where sellers gave it all they got but there was no follow through selling on March 26th or on the 27th.
And price actually broke above the high of the March 25th sell climax bar which was a big clue that buyers would probably take control again.
Even more strength was added to the buyers side when today the price broke above yesterday's low volume buy bar.
If price breaks below the March 27th low, then the sellers will take back control for a little bit and drive price back down to $50,000 or lower but at the moment there is only about a 30-40% chance of that happening.
Let's see what tomorrow's bar brings :)
I'm currently long Bitcoin
There is a 60% chance or better that they will succeed. Here's why: March 25th was a sell climax bar where sellers gave it all they got but there was no follow through selling on March 26th or on the 27th.
And price actually broke above the high of the March 25th sell climax bar which was a big clue that buyers would probably take control again.
Even more strength was added to the buyers side when today the price broke above yesterday's low volume buy bar.
If price breaks below the March 27th low, then the sellers will take back control for a little bit and drive price back down to $50,000 or lower but at the moment there is only about a 30-40% chance of that happening.
Let's see what tomorrow's bar brings :)
I'm currently long Bitcoin