Bitcoin is once again testing the trend support outlined in my previous idea. Another bounce here could easily lead to another bullish-impulse; and a break below it followed by coming back up to test and confirm the new resistance would be a signal for a longer bearish impulse coming for the next few days.
Comment:
Another major test of a trend support occurring now!
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Comment:
BTC seems to be finding short-term support which will likely lead to a retest of 21k as resistance (or a higher resistance)
Trade closed: target reached
On the 6-hour we can easily see how volatile that retest and rejection was and that on that bigger time-frame we are still in a very sideways consolidation. Breaking above 21.1k would likely lead to a massive impulse to the upside, and a break below 20k could trigger at least a short-lived bearish impulse if not more.