Bitcoin Chart Update 1hour Time Frame
Hello
Quick Simple Useful :
Trend is BULLISH unless price would have lost 51200 .
There was a DEMAND area which price had a good reaction there, after a fake break and near 51400.
Now price has reached a SUPPLY zone around 52200.
Next SUPPLY zone would be 52600 area.
Breaking previous high would be a good signal for preparing LONG position.
Quick Simple Useful :
Trend is BULLISH unless price would have lost 51200 .
There was a DEMAND area which price had a good reaction there, after a fake break and near 51400.
Now price has reached a SUPPLY zone around 52200.
Next SUPPLY zone would be 52600 area.
Breaking previous high would be a good signal for preparing LONG position.
Comment:
52000 - 52200 was a good SUPPLY area for sellers. But now is a bit late.
Should wait for a new SUPPLY zone appearance or trend changing.
Should wait for a new SUPPLY zone appearance or trend changing.
Price had a good reaction from the top SUPPLY zone.
It has lost 51200 and so trend has changed for now.