MY BIAS ON BTC

2022年5月26日

My analysis on how BTC the first and topmost cryptocurrency in the world has been so valid awhile. BTC has been in range awhile since both sellers and buyers don’t gain enough momentum to push the latter or the former outside of the picture. A very good resistance to observe on the 1H TF is the 30,800 region. Anytime it got close or hit that resistance, it always bounce back aggressively. From my view 31,000 is the major resistance to break out from and close above, any other closing below the region signifies the bear run never ends. 28,930 has also been a minor support, price has been retracing from there all while you the upside, while 28,666 is still my major support at the moment. I wouldn’t suggest anyone should think we have bottom yet, there might be more to come. If we don’t see a greater force from the bulls, any upside movement from the to the resistance of 30,800; I’ll look for more short positions to enter.
WHAT’S MY BIAS FOR THE COMING WEEK?
I expect more pullback to the downside, movement to the upside will be an eventual opportunity to run wild down again.
I hope you can make use of this.
Thank you
Happy Weekend ahead