BTC - Support Line tested but we staid upper
Hello all,
Here is the chart of yesterday :
Here is the current chart :
Today, we continued to test the support line around 5150$ but we never broke that line. It is a good sign for the BTC as these tests can be considered as as a pull back and so we should continue the previous trend (UP) soon. Let's see, but again the BTC is having very positive signs.
I wish you massive profits,
Cryptopassion.io
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I personally think that the support wont hold for a longer period of time, we seen a lot of price action in the past few months. Thats why I think that we will see a big pull back before rising further. Atleast to the 4100 dollar zone which is correlating with the trendline that was formed, the major support area and the 61,80 fib. BTC also looking to close under the 18 EMA which also can be hard to break at times.
I can see BTC rising until to the weekly resistance after the pull back. Here is why : We can see the -27% fib correlating perfectly with the weekly resistance between 5883 and 5849 dollar zone. (this is a 4 hour chart)
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Thank you for that nice analysis. Let's see what will happen then ;-)
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6000 dollars may be the new testing line. If it passes it the bull will continue.
We won't reach it in 1 time, we need some consolidations before but let's see, for me we are still in a UP trend, even with the recent drop.