Bitcoin has continued its decline against USD and is now
attempting to shift trend on the daily timeframe as it is
probing inside the Cloud. Bulls would like to see a close
above the Cloud and 14085, which coincide with the
Montlhy pivot point. Such a close would create a piercing line
candle at the Weekly S1 at 13540 which could attract
more buyers.
Price action since christmas has been moving in an
ascending range. If this channel holds, chances are we
will see a return up towards the higher end of the channel.
So even if price fails to close above the Cloud the channel
may still add support, i.e if price close above it (and the Weekly
S1). The white equilibrium line stands at 15425 and the
Weekly pivot point. Until price close above this level,
the pair will be under pressure from sellers.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******
attempting to shift trend on the daily timeframe as it is
probing inside the Cloud. Bulls would like to see a close
above the Cloud and 14085, which coincide with the
Montlhy pivot point. Such a close would create a piercing line
candle at the Weekly S1 at 13540 which could attract
more buyers.
Price action since christmas has been moving in an
ascending range. If this channel holds, chances are we
will see a return up towards the higher end of the channel.
So even if price fails to close above the Cloud the channel
may still add support, i.e if price close above it (and the Weekly
S1). The white equilibrium line stands at 15425 and the
Weekly pivot point. Until price close above this level,
the pair will be under pressure from sellers.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******