A quick look at the 15min BTC trend
The support zone ranging from 28839 to 28549 is currently trying to push up the trend.
Once the price closed above the confluence zone and the spring box, which is above 29400, the price may likely form another new high and it will attempt to break the resistance zone.
But what are the odds that this will happen? The price must struggle first to pass above the spring's midpoint before that happens. At the moment, there is an indication that the price is slowly establishing its sub-support areas. Observe that the previous 41% level at 286520 have increased to 28810.6 at the same 41% level RSI, which likely indicates an up trend. The price is now retracing to gather more momentum to pass the midpoint.
/please DYOR/ trade at your own risk
Once the price closed above the confluence zone and the spring box, which is above 29400, the price may likely form another new high and it will attempt to break the resistance zone.
But what are the odds that this will happen? The price must struggle first to pass above the spring's midpoint before that happens. At the moment, there is an indication that the price is slowly establishing its sub-support areas. Observe that the previous 41% level at 286520 have increased to 28810.6 at the same 41% level RSI, which likely indicates an up trend. The price is now retracing to gather more momentum to pass the midpoint.
/please DYOR/ trade at your own risk
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