Now we are testing the support zone at 21k, a globally potential Head and Shoulders trend reversal pattern, we are on the right shoulder. Breakout level $25000, targets $35000
It is important to hold the 21.000 level so that we can re-enter the 25.000 test otherwise we may see a new low
Bitcoin loves sideways so there is every chance to hold 21.000 and go to test 25k. We had have growing trend locally if the chances to go sideways in the 21k-25k zone
locally, the technical signal from MACD is convergence, which can give us a signal that 21k will stand and we will be able to enter the 23k test
Also some altcoins confirm the Long signal by showing us convergences on higher hourly timeframes
Multiple tests of the 20k-21k zone confirm to us that this is a very serious, strong and important level, there is a big chance to work out convergences with growth and break away from the 21k level
But there is also a chance that a very large number of Long stops are behind this level and we can go Down in order to to remove long positions with liquidations and return again for 21k
There are two options, we will still go for a test lower than 21k level 20K. We will remove Long stops and we will be able to exit again to the level of 23k and above, it is important to keep level 21k. Now we are strongly oversold and we need to find a balance, that is, go into a correction to fall. Let's see if the MACD long signal works out and if we can break away from the attraction of the 20k-21k zone support, it will not be easy, the level has already been tested
It is important to hold the 21.000 level so that we can re-enter the 25.000 test otherwise we may see a new low
Bitcoin loves sideways so there is every chance to hold 21.000 and go to test 25k. We had have growing trend locally if the chances to go sideways in the 21k-25k zone
locally, the technical signal from MACD is convergence, which can give us a signal that 21k will stand and we will be able to enter the 23k test
Also some altcoins confirm the Long signal by showing us convergences on higher hourly timeframes
Multiple tests of the 20k-21k zone confirm to us that this is a very serious, strong and important level, there is a big chance to work out convergences with growth and break away from the 21k level
But there is also a chance that a very large number of Long stops are behind this level and we can go Down in order to to remove long positions with liquidations and return again for 21k
There are two options, we will still go for a test lower than 21k level 20K. We will remove Long stops and we will be able to exit again to the level of 23k and above, it is important to keep level 21k. Now we are strongly oversold and we need to find a balance, that is, go into a correction to fall. Let's see if the MACD long signal works out and if we can break away from the attraction of the 20k-21k zone support, it will not be easy, the level has already been tested
