BTC - potential bounce off and bullish continuation?
Updated
BTC seems to have found some support at one of the trendline, the 1H clearly shows the price is managing to hold in the mid 34k range.
If we manage to reclaim 35k and trade at that level for some, a retest of 36k (supply zone) could be very likely.
If we manage to reclaim 35k and trade at that level for some, a retest of 36k (supply zone) could be very likely.
Note
We didn't hold the trendline, but we did manage to find support at 34k and now broke out of the downtrend channel on the 15m chart, we're currently sitting at 34.8k.A small leg up with a close above 35k could mean bulls are back in power for the short term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.