FXtrades-gp

BITCOIN: New Bullish Impulse up to the 38000?

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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🟢Forex Pair:
BITCOIN /USD

Technical Analysis:
Since the 19th of January, the price has been moving creating an interesting double bottom pattern, bouncing twice on the support level at about 30250.
The price then, got a strong bullish impulse, moving up until the resistance level at about 38000, level where it got a quick and heavy rejection.
It has currently re-testing the S/R zone at about 34300 and the next price action around this level will be essential to understand the next movement.

🔴Conclusion:
The S/R zone at about 34300 it's absolutely a strong support right now, also considering how many times the price got a rejection on that area.
I'm confident to see a new rejection and a new bullish impulse, trying to reach back the resistance zone at about 38000.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

I like it, wonderful.
+1 Reply
@abel11, I'm glad of that
Reply
Nice analysis on BTC 🐻❄️🙏😊😃
+1 Reply
FXtrades-gp PolarHusk
@PolarHusk, many thanks! :) I really appreciate!
Reply
Great set up dude!
+1 Reply
FXtrades-gp plancton0618
@plancton0618 many thanks plancton ! 👌👌
Reply
fantastic Gianni!
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst, Thanks so much Rich! :)
Reply
possible after breaking trend line
+1 Reply
FXtrades-gp MMBTtrader
@MMBTtrader, Yup! let's see :D
Reply
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