BITCOIN: A MIX FEELING OF GREEN AND RED.
Welcome folks, to this new update on BTC.
Timeframe: 3 Days.
Recap: In my previous update, I mentioned about the two scenarios.
1. BTC will continue to hold the 19k support level and bounce back.
2. BTC will break down and fall towards the
12K support level.
Well, it followed the number 1 scenario, a bounce from the 19k support level.
Update: Recently, BTC has been reacting both negative and positive at the same time. I don't know if this could be an actual bounce back for BTC towards the 29.5k resistance level. So far, BTC manage to stay above the support 1 level but still in a critical zone. This time if BTC manages to break through all the odds then 29.5k to 30k could be a promising range for BTC. If you ask me when then I believe the beginning of the last quarter could be the month.
RSI: The RSI is showing both the bullish and bearish divergence at the same time. We can see a nice rising wedge pattern forming in the RSI.
Conclusion: Bulls need to maintain the pressure and should not drop below the 19k support. I am still holding my longs on BTC on spot and if by any chance, BTC goes bleeding red, I would like to accumulate more and more.
What do you think about the recent price movement in BTC?
Do share your views. Like, and comment to support me.
Thank you and trade safely.
Timeframe: 3 Days.
Recap: In my previous update, I mentioned about the two scenarios.
1. BTC will continue to hold the 19k support level and bounce back.
2. BTC will break down and fall towards the
12K support level.Well, it followed the number 1 scenario, a bounce from the 19k support level.
Update: Recently, BTC has been reacting both negative and positive at the same time. I don't know if this could be an actual bounce back for BTC towards the 29.5k resistance level. So far, BTC manage to stay above the support 1 level but still in a critical zone. This time if BTC manages to break through all the odds then 29.5k to 30k could be a promising range for BTC. If you ask me when then I believe the beginning of the last quarter could be the month.
RSI: The RSI is showing both the bullish and bearish divergence at the same time. We can see a nice rising wedge pattern forming in the RSI.
Conclusion: Bulls need to maintain the pressure and should not drop below the 19k support. I am still holding my longs on BTC on spot and if by any chance, BTC goes bleeding red, I would like to accumulate more and more.
What do you think about the recent price movement in BTC?
Do share your views. Like, and comment to support me.
Thank you and trade safely.
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