Bitcoins ~100% run in 14 days has seen it run through resistance areas with ease, but will this momentum carry it through this key area? Currently broken the 38.2% retrace (17/12 -> 6/2)
Slightly beyond those levels we have the 50% retrace at $12.7k which was also a support area throughout late december/early january.
I remain bullish on making that 3rd wave but worth noting the divergence on 4h RSI
30 min chart (break/retest should act as short-term support)
- 100DMA
- Rough Parallel channel off 17/12 -> 6/1
- Upper pitchfork line
- Previous support area throughout mid/late January
Slightly beyond those levels we have the 50% retrace at $12.7k which was also a support area throughout late december/early january.
I remain bullish on making that 3rd wave but worth noting the divergence on 4h RSI
30 min chart (break/retest should act as short-term support)
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Potential break of R1 targeting a strong zone median pitchfork and long term trend line
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Coming into this key area now which is also the weekly R1
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That was a rather strong reversal to that area
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Some weird shake out at key res, dumping across all cryptos.
Found some support at previous resistance area / s1, see if prev support zone turns into res.
Found some support at previous resistance area / s1, see if prev support zone turns into res.
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Testing what was the support zone
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What happened in wave 1 looking pretty similar to what is happening now
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Downside sup
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At the trend line
