BTCUSDT.P | 0.618 Fib-level holds: price up three days in a row
BTCUSDT.P is (finally) up a bit. The weekly 0.618 Fib-level has held as support and now the chart shows three green daily candles in a row. That has been a while...
Price also broke the daily (downward) trendline.
That's the positive.
But on the other hand...
Price is now facing a big FVG (Fair Value Gap). Above that the 21 weekly EMA resistance is creeping closer. The weekly (downward)trendline (dotted) also has yet to be broken.
Once BTC has broken all of these, there's a bearish order block (red) waiting at 30.000ish.
So: price is up, but where not out of the woods yet.
Price also broke the daily (downward) trendline.
That's the positive.
But on the other hand...
Price is now facing a big FVG (Fair Value Gap). Above that the 21 weekly EMA resistance is creeping closer. The weekly (downward)trendline (dotted) also has yet to be broken.
Once BTC has broken all of these, there's a bearish order block (red) waiting at 30.000ish.
So: price is up, but where not out of the woods yet.