Two rejections from resistance, and two bounces off support.
The bulls still have control of the trend as long as this support level holds, and with a break of $6k we will be looking right back to all time highs.
Break this support and the daily chart will be forming a lower high with the possibility of a head and shoulders reversal pattern we will highlight in the videos over the weekend.
The hourly time frame could also drawn this channel as an ascending triangle due to the higher low that formed.
Break anticipated sometime in the next few hours today. Bull entry with a break of the lower highs, oversold bounce watch if support breaks.
The bulls still have control of the trend as long as this support level holds, and with a break of $6k we will be looking right back to all time highs.
Break this support and the daily chart will be forming a lower high with the possibility of a head and shoulders reversal pattern we will highlight in the videos over the weekend.
The hourly time frame could also drawn this channel as an ascending triangle due to the higher low that formed.
Break anticipated sometime in the next few hours today. Bull entry with a break of the lower highs, oversold bounce watch if support breaks.
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