Taking a dive into Bitcoin today.
Local supply area has been broken clean. I now expect this area to act as Demand for Bitcoin. Current area I would expect to see Bears start to show strength will be our Weekly S/R @ $7,800.
Bulls breaking above $7,800 will catch the eyes of many investors / traders, and likely push the rally via news. Now, $8,900 will be the make or break area for BTC as this is our Weekly EQ level near our $10k Psych mark.
If BTC can sustain this $8,900 area and build demand for a push towards $10k I am expecting Bitcoin to target our ATH and likely push higher. A rejection @ $8,900 will be significant for the bears as well. Until then, we ignore the FUD and grow our Bitcoins.
Local supply area has been broken clean. I now expect this area to act as Demand for Bitcoin. Current area I would expect to see Bears start to show strength will be our Weekly S/R @ $7,800.
Bulls breaking above $7,800 will catch the eyes of many investors / traders, and likely push the rally via news. Now, $8,900 will be the make or break area for BTC as this is our Weekly EQ level near our $10k Psych mark.
If BTC can sustain this $8,900 area and build demand for a push towards $10k I am expecting Bitcoin to target our ATH and likely push higher. A rejection @ $8,900 will be significant for the bears as well. Until then, we ignore the FUD and grow our Bitcoins.