🔎Chart about says it all, Bitcoin is still testing and within our newly marked channel from the last idea as linked below if you want to check that out:
🔎Bitcoin failed the test first when we ended up falling out the channel to which we were rapidly approaching that $15,680 mark before some massive buy pressure kicked in likely on behalf of larger whales buying in at lower prices and helping to establish a support.
🔎I've extended the channel of course since the last idea was a few days ago but is still proving just fine for showing us what's up and helping with a guide. We break up we can so $17,000's and more and vice versa if we break below that bottom mark. Main thing now is that we've regained our 200 EMA and just want to hold it and keep it with us basically to potentially form a good golden cross opportunity.
🔎The golden cross opportunity of course begs on the price action and whether or not we can sustain pressure above our 200 EMA and find the support we want to regain our levels which if done could potentially mean an establishment of support here helping with the Rainbow chart pattern which we'll be going into soon. Now if we fail that test of forming the golden cross then well, we simply fall again by which we'll look back to that $15,680 level and should that be broken $10,000 is in the calling as there's a lot of leverage still out on the market and margin/stop loss orders no doubt so be on watch for either!
🔎If you'd like to leave a like or follow and share it'd be much appreciated of course! Doing my best each and every single day for you guys. None of this is financial advice as always and is simply an observation and the writing of a Rock that likes drawing lines and looking at colors!
~ Rock '
🔎Bitcoin failed the test first when we ended up falling out the channel to which we were rapidly approaching that $15,680 mark before some massive buy pressure kicked in likely on behalf of larger whales buying in at lower prices and helping to establish a support.
🔎I've extended the channel of course since the last idea was a few days ago but is still proving just fine for showing us what's up and helping with a guide. We break up we can so $17,000's and more and vice versa if we break below that bottom mark. Main thing now is that we've regained our 200 EMA and just want to hold it and keep it with us basically to potentially form a good golden cross opportunity.
🔎The golden cross opportunity of course begs on the price action and whether or not we can sustain pressure above our 200 EMA and find the support we want to regain our levels which if done could potentially mean an establishment of support here helping with the Rainbow chart pattern which we'll be going into soon. Now if we fail that test of forming the golden cross then well, we simply fall again by which we'll look back to that $15,680 level and should that be broken $10,000 is in the calling as there's a lot of leverage still out on the market and margin/stop loss orders no doubt so be on watch for either!
🔎If you'd like to leave a like or follow and share it'd be much appreciated of course! Doing my best each and every single day for you guys. None of this is financial advice as always and is simply an observation and the writing of a Rock that likes drawing lines and looking at colors!
~ Rock '
