As I predicted the reversal of Bitcoin in my last TA perfectly on point I want to go a bit in a shorter timeframe I that one.
BTC got rejected at the 9.2k range (which I mentioned was a critical resistance point) and is now moving a long in the middle of the upward channel - I can see BTC going back to 8700$ and test test support there (Fib line, Upward channel and previous support) - IF we break that we can again expect lower lows and the reversal wa maybe only a dead cat bounce.
I still see more momentum to the upside and see BTC bounce off (or not even get to) the 8700$ range.
Good luck!
BTC got rejected at the 9.2k range (which I mentioned was a critical resistance point) and is now moving a long in the middle of the upward channel - I can see BTC going back to 8700$ and test test support there (Fib line, Upward channel and previous support) - IF we break that we can again expect lower lows and the reversal wa maybe only a dead cat bounce.
I still see more momentum to the upside and see BTC bounce off (or not even get to) the 8700$ range.
Good luck!
Trade stängt: målet nått:
We broke through 8.7k and bounced back the 0.618 fib level which is a good sign. I see todays declines on the one-day chart quite similar to the first pullback after the bounce from 6k in February.