H4 : The upside breakout of the cluster zone around 58400 (see H1) triggered a sharp upside acceleration in pushing
the BTC towards a high so far of 61222 (triangle target being 62525).
So, what next ?
The former psychological resistance level of 60000 becomes now the first significant support level to look at.
Indeed, upcoming price action would determine the next trading range opening respectively the door for the 62500 on the
upside or for a pullback towards the triangle breakout at around 58850.
In order to maintain this new upside trading bias it is IMPERATIVE that the BTC hold above the current support of this new
bullish zone that is currently @ 58850 !
A failure to do it would reopen the door for the former bearish zone
Watch upcoming H1/M15 analysis, which will come soon.
Have a great weekend and if you find my analysis valuable for you, do not forget to like it and add me on your following list :-)
All the best
Take care
the BTC towards a high so far of 61222 (triangle target being 62525).
So, what next ?
The former psychological resistance level of 60000 becomes now the first significant support level to look at.
Indeed, upcoming price action would determine the next trading range opening respectively the door for the 62500 on the
upside or for a pullback towards the triangle breakout at around 58850.
In order to maintain this new upside trading bias it is IMPERATIVE that the BTC hold above the current support of this new
bullish zone that is currently @ 58850 !
A failure to do it would reopen the door for the former bearish zone
Watch upcoming H1/M15 analysis, which will come soon.
Have a great weekend and if you find my analysis valuable for you, do not forget to like it and add me on your following list :-)
All the best
Take care
