BTC need some correction before continuing BULL RUN ?
No Doubt that BTC is in great momentum ,up more 180% in just 6 months , but every rally need a break ( some correction ) to fill the necessary fuel to continue Bull run started in jan 2019
1/like i said in some of my previous analysis in any bull trend higher low indicator is very important because its shows us how healthy trend and This movement is one of the tenets of an uptrend
:::::>So Blue line (horz) : Bulls need to protect this support to keep HL in equation
2/ in case of break out of blue line the green line (2nd support )
green line : for me is one of the most important line in last 2,5 years
a/ in 24th of november 2017 we break this line and the price jumped from around 7K to 20K in three weeks
b/this line was a great resistance when bearish reversal confirmed ( at least 2 times !)
c/ when we broke the line this week the price went from around 8K to 14K
3/ RSI the green line has been acting as support for a while now ( and if we break it , generally its fake break out except when the price went from 6K to 3K)
so to resume we need some correction before continuing bull run but i wouldnt be surprised if btc give us another rally up !
that's my view
1/like i said in some of my previous analysis in any bull trend higher low indicator is very important because its shows us how healthy trend and This movement is one of the tenets of an uptrend
:::::>So Blue line (horz) : Bulls need to protect this support to keep HL in equation
2/ in case of break out of blue line the green line (2nd support )
green line : for me is one of the most important line in last 2,5 years
a/ in 24th of november 2017 we break this line and the price jumped from around 7K to 20K in three weeks
b/this line was a great resistance when bearish reversal confirmed ( at least 2 times !)
c/ when we broke the line this week the price went from around 8K to 14K
3/ RSI the green line has been acting as support for a while now ( and if we break it , generally its fake break out except when the price went from 6K to 3K)
so to resume we need some correction before continuing bull run but i wouldnt be surprised if btc give us another rally up !
that's my view