Last week we determined $55.600 to be our crucial level of resistance for the time being. On Friday, due to the COVID mutation Omicron news, Bitcoin slashed through that support, BUT: it found support at the next logical level with $53.617, which was a fantastic entry level if you are holding long term.
I made a video about the situation and why I remained calm despite that drop. (www.tradingview.com/...itcoin-s-correction/)
So how did that play out? Quite well, actually. Bitcoin bounced from support and has re-entered the beloved/hated range (between the green areas).
For now we want a confirmed flip of the current support $57k-58k - that means we want a close above - anything between 4h and daily, but I'm sticking to daily.
When to buy: after successful close above the current resistance around $57k-$58k. A retest as support would be even better.
I made a video about the situation and why I remained calm despite that drop. (www.tradingview.com/...itcoin-s-correction/)
So how did that play out? Quite well, actually. Bitcoin bounced from support and has re-entered the beloved/hated range (between the green areas).
For now we want a confirmed flip of the current support $57k-58k - that means we want a close above - anything between 4h and daily, but I'm sticking to daily.
When to buy: after successful close above the current resistance around $57k-$58k. A retest as support would be even better.