BTCUSD - Will we re-test $10.8K before a move down?
The price of bitcoin has found support at the 0.618 fib and is currently trading in the bottom range of an ascending channel. at the lower time frames, it almost seems like we are forming ascending triangle (bullish).
One could argue that the price is forming a bear flag (fall, slow climb up , and fall again). There are alot of EMA resistance just above the current price and the bulls are yet show any significant buying pressure.
I will wait patiently until there is a decisive move.
1. if we move up from here with mediocre volume, I will be looking to aggressive Short the upper 10K ranges.
2. if we break down a bit, I will be looking to buy the mid to low 9K support.
3. if we break up with aggressive volume, it would warrant a bullish speculation.
One could argue that the price is forming a bear flag (fall, slow climb up , and fall again). There are alot of EMA resistance just above the current price and the bulls are yet show any significant buying pressure.
I will wait patiently until there is a decisive move.
1. if we move up from here with mediocre volume, I will be looking to aggressive Short the upper 10K ranges.
2. if we break down a bit, I will be looking to buy the mid to low 9K support.
3. if we break up with aggressive volume, it would warrant a bullish speculation.
Smart Crypto Association [ SCA ]
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