Watching for this Bitcoin short term breakout!
Bitcoin disrepected a lot of patterns in the last days but one thing that it did respect was this short term support which has been holding up price very strong.
Right now bulls are pushing up price slowly and they are confident with this support but bears still dominate the 6500 resistance area that has been holding down Bitcoin price in the last weeks. For me this is the time to wait patientily for this breakout and I must warn that I will be not surprised to see bulls retesting 6500 in a few hours.
Indicators have also be ignored lately in the chart but if you ask my opinions here is what is bullish and bearish for me:
Bullish: 30M, 1H, 1D, 1M.
Bearish : 4H, 1W.
Right now bulls are pushing up price slowly and they are confident with this support but bears still dominate the 6500 resistance area that has been holding down Bitcoin price in the last weeks. For me this is the time to wait patientily for this breakout and I must warn that I will be not surprised to see bulls retesting 6500 in a few hours.
Indicators have also be ignored lately in the chart but if you ask my opinions here is what is bullish and bearish for me:
Bullish: 30M, 1H, 1D, 1M.
Bearish : 4H, 1W.
Comment:
Broke down the support line but Bitcoin is still holding up from 6200 area.
A downside breakout should take us to retest 6000 levels.