Hey! I am back with another Technical Analysis looking at Bitcoin.
After Bitcoin has broken current resistance level around 8200, it has seen a denial and some bear power and was frequently testing current support zone and the zone just couldn't handle the pressure no more. So support zone has been broken, panic has begun, bots have been triggered in chain reaction and there was which has seen some of lows of around 6700.
However of this move, Bitcoin has managed to find decent support at previous resistance level and has managed to show three pretty green candles in a row which has led into a bull flag breakout!
This breakout has broken without any doubts the resistance level of 7800 area and managed to find support above it.
These are all good and healthy moves, which has confirmed Bitcoin overall uptrend!
I will keep an eye on you Bitcoin and post updates when I spot something significant worth sharing!
But for now, that is all from me. If you like my work and you agree with my chart, let me know by liking my idea or leaving a comment.
In the other hand if you disagree and you have another POV on Bitcoin, let me know in comments below!
After Bitcoin has broken current resistance level around 8200, it has seen a denial and some bear power and was frequently testing current support zone and the zone just couldn't handle the pressure no more. So support zone has been broken, panic has begun, bots have been triggered in chain reaction and there was which has seen some of lows of around 6700.
However of this move, Bitcoin has managed to find decent support at previous resistance level and has managed to show three pretty green candles in a row which has led into a bull flag breakout!
This breakout has broken without any doubts the resistance level of 7800 area and managed to find support above it.
These are all good and healthy moves, which has confirmed Bitcoin overall uptrend!
I will keep an eye on you Bitcoin and post updates when I spot something significant worth sharing!
But for now, that is all from me. If you like my work and you agree with my chart, let me know by liking my idea or leaving a comment.
In the other hand if you disagree and you have another POV on Bitcoin, let me know in comments below!
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Looks like Bitcoin is forming another ascending triangle.. this 8,000€ seems like a pretty strong resistance to break and hold above. But its good that Bitcoin is continuously testing resistance!
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Basic Trendlines
In my opinion the most useful and underrated indicator.
In my opinion the most useful and underrated indicator.
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Looks like I was right. Ressistance was tested but failed to hold above, currently support was broken but failed to hold below a tight war we are having in here!
The Bitcoin price has seen a push which has led from to ascending triangle to test 8100 where it has stopped and seen some denial, but very quickly has bounced of support level and formed another uptrend which is about to test this resistance level once again. Remember, for the price to go higher we need to see more test in resistance level than in support level.