Bitcoin BTC - Back To Test Neckline And 50 Day SMA
After fulfilling our noted measured move price objective at the 7800-8000 zone, and exceeding such level by a few hundred points/dollars with and 8500 print, BTC has found its way back to test its prior break-out level (former resistance now turned support) out of its inverted H&S pattern of three (3) weeks ago located at the 6900 figure.
While both Investors/Traders can expect a bounce out of this level and perhaps a test into the 7200-7300 zone, it will be important to see how BTC acts at such level should it materialize in the days ahead.
Will BTC have enough Mojo/Momentum to produce 'Follow-Through' once there or, will BTC find stiff headwinds only to be rebuffed and resume the slippery slope lower once again?
Only in time will we know - have our answer/s. Developing. We await the verdict.
While both Investors/Traders can expect a bounce out of this level and perhaps a test into the 7200-7300 zone, it will be important to see how BTC acts at such level should it materialize in the days ahead.
Will BTC have enough Mojo/Momentum to produce 'Follow-Through' once there or, will BTC find stiff headwinds only to be rebuffed and resume the slippery slope lower once again?
Only in time will we know - have our answer/s. Developing. We await the verdict.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.