The Bitcoin price have been pulled back near the red support line, but not below it. Does the price go up or down?
The first case:
Going up, there is a red key resistance. If it chooses upward to break through the red resistance level, the bitcoin's prospects can be turned bullish.
Going downward. There is a red support level. If the bitcoin chooses downward to break blow the support level, and failure to surpass this support level would signal to short bitcoin.
The second case
Right now, the price re-test the support level. The price can choose tight range trade surpassing this support level, or it may remain range bound widely.
About the range bound widely, if the price is pulled back to the support level twice or more times and not break blow this support level, LONG BITCOIN.
If the price break blow the support level and not be pull up the support level immediately, GO TO SHORT BITCOIN.
The first case:
Going up, there is a red key resistance. If it chooses upward to break through the red resistance level, the bitcoin's prospects can be turned bullish.
Going downward. There is a red support level. If the bitcoin chooses downward to break blow the support level, and failure to surpass this support level would signal to short bitcoin.
The second case
Right now, the price re-test the support level. The price can choose tight range trade surpassing this support level, or it may remain range bound widely.
About the range bound widely, if the price is pulled back to the support level twice or more times and not break blow this support level, LONG BITCOIN.
If the price break blow the support level and not be pull up the support level immediately, GO TO SHORT BITCOIN.