BTCUSD - Short Term - Is this a bull trap?
Prices is starting to form a an ascending channel for future price action.
The key levels are 5.9K to 5.6K.
BULLS - If price holds the key level range, price will get another bounce up.
BEARS - If price loses the range, then price will probably play down like all ascending channels.
As always, volume is the the confirmation, and so far the bulls have stepped up in these fearful market conditions. Price action is moving higher as the volume is sequentially increasing. Look for a large bearish volume for trend reversal signal.
We are starting to accumulate near the 200 weekly MA ranges in the long term.
The key levels are 5.9K to 5.6K.
BULLS - If price holds the key level range, price will get another bounce up.
BEARS - If price loses the range, then price will probably play down like all ascending channels.
As always, volume is the the confirmation, and so far the bulls have stepped up in these fearful market conditions. Price action is moving higher as the volume is sequentially increasing. Look for a large bearish volume for trend reversal signal.
We are starting to accumulate near the 200 weekly MA ranges in the long term.
Smart Crypto Association [ SCA ]
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