31.5k held nicely as support, and was a level mentioned in many of my previous ideas as a level where we had many confluences.
We bounced off 31.5k, reclaimed weekly, retested it (long entry), reclaimed the VAL and now reclaimed daily open, which is very bullish.
If we hold above those levels, 31.5k has a nice chance of being the bottom of this 55 days-ish correction and BTC will start making its way back up.
Support levels are now : VAL (32,555), weekly at 32,290 (very important)
Resistance : 32.8k (daily), 33.5k (fib + anchored VWAP), 34-34.2k (old fib), 34.6k (POC)
If we break back below the weekly, this will be a sign of weakness which could invalidate the 31.5k bottom.
Any questions?
Good luck traders
Remember not to break your rules
Habib
We bounced off 31.5k, reclaimed weekly, retested it (long entry), reclaimed the VAL and now reclaimed daily open, which is very bullish.
If we hold above those levels, 31.5k has a nice chance of being the bottom of this 55 days-ish correction and BTC will start making its way back up.
Support levels are now : VAL (32,555), weekly at 32,290 (very important)
Resistance : 32.8k (daily), 33.5k (fib + anchored VWAP), 34-34.2k (old fib), 34.6k (POC)
If we break back below the weekly, this will be a sign of weakness which could invalidate the 31.5k bottom.
Any questions?
Good luck traders
Remember not to break your rules
Habib
