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Price was retested a lot of times in a very short period of time that caused the $7,500 resistance to be broken.
After price started to accelerate, it successfully reached the high of $10,000 which is a Psychological resistance (easy to remember number)
If we are going to be bullish this month, we want to see a bullish pattern, ideally an ASCENDING PATTERN.
Apparently, after EMA20 was retested, price eventually broke out and reached the $8700 - $8500 area.
There is a possible continuation of this declining since we can see an acceleration to bears and retrace up to $7500 that acts as a resistance and might now act as a support.
Disclaimer:
Anything can happen in the market.
Only trade what you are willing to lose.
#tradeResponsibly
After price started to accelerate, it successfully reached the high of $10,000 which is a Psychological resistance (easy to remember number)
If we are going to be bullish this month, we want to see a bullish pattern, ideally an ASCENDING PATTERN.
Apparently, after EMA20 was retested, price eventually broke out and reached the $8700 - $8500 area.
There is a possible continuation of this declining since we can see an acceleration to bears and retrace up to $7500 that acts as a resistance and might now act as a support.
Disclaimer:
Anything can happen in the market.
Only trade what you are willing to lose.
#tradeResponsibly
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