BTCUSDT Analysis 1/31/2020

1 Şub 2020

BTCUSDT Has come to a very pivotal point on this current rally. You can see the number of daily closes around this area last year that pivoted until it broke. It's been tested once on the insane 2 day rally that saw 40% gains only to come falling back down. If this area can be reclaimed than bulls should see a quick move toward 10k. Bears should be scouting entries at the current price. Bulls will want to see continuation and a strong daily close sometimes in teh next few days above this area. Right now any retrace to the 8800 area should be consider for a buy . This is also starting to shape up to look like a massive Inverse H&S with the October 2019 low as the left shoulder and the head as the 2019 December low. Will be interesting to see how things shape up as the week gets started Sunday night. I foresee mostly sideways action over the next couple days until the CME and FX markets open Sunday night.