Bitcoin needs to hold $20200 demand for bullish structure
As we posted before Bitcoin held $18.5k support and has been pumping along with many alt coins and bullish news. Bitcoin with the pump has made a bullish structure now we have a newly introduced demand at $20,200 which needs to be held for more upside.
However, if Bitcoin lose $20,200 we can expect more downside as we will have structure shift.
Right now the price of Bitcoin is getting reject at $21.5k. The Price Action also suggests that Bitcoin price is in a parallel channel if I am correct the target is going to be $24k - $25k for this move. We can expect a pullback towards $19.5k if price doesn't hold the new demand of $20,200.
All the important levels are marked on the chart.
Enjoy Trading.
(press like 👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis)
However, if Bitcoin lose $20,200 we can expect more downside as we will have structure shift.
Right now the price of Bitcoin is getting reject at $21.5k. The Price Action also suggests that Bitcoin price is in a parallel channel if I am correct the target is going to be $24k - $25k for this move. We can expect a pullback towards $19.5k if price doesn't hold the new demand of $20,200.
All the important levels are marked on the chart.
Enjoy Trading.
(press like 👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis)