BITCOIN: New Bullish Impulse up to the 38000?
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🟢Forex Pair:
BITCOIN/USD
⚪Technical Analysis:
Since the 19th of January, the price has been moving creating an interesting double bottom pattern, bouncing twice on the support level at about 30250.
The price then, got a strong bullish impulse, moving up until the resistance level at about 38000, level where it got a quick and heavy rejection.
It has currently re-testing the S/R zone at about 34300 and the next price action around this level will be essential to understand the next movement.
🔴Conclusion:
The S/R zone at about 34300 it's absolutely a strong support right now, also considering how many times the price got a rejection on that area.
I'm confident to see a new rejection and a new bullish impulse, trying to reach back the resistance zone at about 38000.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
BITCOIN/USD
⚪Technical Analysis:
Since the 19th of January, the price has been moving creating an interesting double bottom pattern, bouncing twice on the support level at about 30250.
The price then, got a strong bullish impulse, moving up until the resistance level at about 38000, level where it got a quick and heavy rejection.
It has currently re-testing the S/R zone at about 34300 and the next price action around this level will be essential to understand the next movement.
🔴Conclusion:
The S/R zone at about 34300 it's absolutely a strong support right now, also considering how many times the price got a rejection on that area.
I'm confident to see a new rejection and a new bullish impulse, trying to reach back the resistance zone at about 38000.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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