🔎Bitcoin has managed to regain it's footing and regained that 200 EMA against all odds so I'm happy to see that but if we look we can easily see how we got kicked back down at $16,680 which has already been a resistance point so that's something to mark down if you'd like.
🔎Support kicked in at $16,333 but we don't have any past support points at that mark so we can't really say that's a solid or strong support. Instead we can identify the likely cause for that 'support' being that whale Bulls didn't want us to lose that 200 EMA so they threw in some good buy orders to help us avoid losing that mark else we'd be looking at a very different sight right now no doubt. And for that reason I'm not gonna call that a real support right now but more of a 'needed' support that whales acted on in regards to the 200 EMA. Now if we get back down there and find support again at that mark then we can begin to look into it possibly being a real support.
🔎Gonna leave the idea here for now since you've got your resistance and support points to note now for the day but if you'd like to leave a like and follow or share it'd be much appreciated as always, simple sharing my observations best as I can. Thank you so much and wishing well.
~ Rock '
🔎Support kicked in at $16,333 but we don't have any past support points at that mark so we can't really say that's a solid or strong support. Instead we can identify the likely cause for that 'support' being that whale Bulls didn't want us to lose that 200 EMA so they threw in some good buy orders to help us avoid losing that mark else we'd be looking at a very different sight right now no doubt. And for that reason I'm not gonna call that a real support right now but more of a 'needed' support that whales acted on in regards to the 200 EMA. Now if we get back down there and find support again at that mark then we can begin to look into it possibly being a real support.
🔎Gonna leave the idea here for now since you've got your resistance and support points to note now for the day but if you'd like to leave a like and follow or share it'd be much appreciated as always, simple sharing my observations best as I can. Thank you so much and wishing well.
~ Rock '
