BTC/USD Next Steps in the Reversal

2021년 7월 24일

It appears that Bitcoin has potentially turned a corner and is on its way to creating an up-trend. This has been confirmed by both the falling wedge breakout AND RSI resistance breakout.

Right now the price action has reclaimed the green ascending trend-line and is currently back inside the "soft" resistance zone. If the price can break-through this zone look for the next target to be the orange resistance line from the larger descending wedge.

The strong resistance zone still remains with both price action and a Fibonacci retracement level protecting it. Will need solid volume to reclaim that price level.

2021년 7월 26일

코멘트

Wow, the price action ripped nicely through the initial resistance levels post breakout. You can see once we crossed the larger orange descending wedge resistance line there was nothing to stop the price action from reaching the "Heavy Resistance" zone. Price has come back from this resistance area as expected.