What a great start of the week with BTC giving us such relief! Cannot say we are surprised, as we've called a ranging structure on BTC almost 1 month ago, and it has been doing just that eversince.
I know that the chart is a little busy but pay close attention to every small detail.
- See the range between 32k and 40,5k
- See the descending trendline on the 4hr
- See the support level at 35k
- See the targets at 46, 49, and 51k.
We've had a bounce from that 35k support and now BTC broke out of that descending trendline for the first time in 25 days!
THIS IS GOOD!
Now we expect a retest on the trendline, then break through 40,5k area, retest that again, and hopefully we see 46k within 1-2 weeks.
I know that the chart is a little busy but pay close attention to every small detail.
- See the range between 32k and 40,5k
- See the descending trendline on the 4hr
- See the support level at 35k
- See the targets at 46, 49, and 51k.
We've had a bounce from that 35k support and now BTC broke out of that descending trendline for the first time in 25 days!
THIS IS GOOD!
Now we expect a retest on the trendline, then break through 40,5k area, retest that again, and hopefully we see 46k within 1-2 weeks.