BITCOIN | Is the bottom in? Weekly bullish Pivot is still INTACT
Hey guys,
The weekly timeframe is still technically bullish and I don't see us going that down sub 10k in which case I will be bearish below $8700 on the recent daily low made. Above 10k there is plenty of support eventough we closed the daily above it, the bounce from 9.9 on Bitmex and 10005 on Coinbase is enough for me to think that the bulls are not willing to pass the ball yet.
Weekly pivot only on the line chart, the candlestick chart has a major wick into 13900 and that doesn't have emphasis on the line. I personally don't trade with the line but I take it into account because institutions and TradingView (main page is made up by them) itself uses it a lot.
Previous trade posted was activated and stopped BE at this recent dump.
Keep your risk managed,
Mariano.
The weekly timeframe is still technically bullish and I don't see us going that down sub 10k in which case I will be bearish below $8700 on the recent daily low made. Above 10k there is plenty of support eventough we closed the daily above it, the bounce from 9.9 on Bitmex and 10005 on Coinbase is enough for me to think that the bulls are not willing to pass the ball yet.
Weekly pivot only on the line chart, the candlestick chart has a major wick into 13900 and that doesn't have emphasis on the line. I personally don't trade with the line but I take it into account because institutions and TradingView (main page is made up by them) itself uses it a lot.
Previous trade posted was activated and stopped BE at this recent dump.
Keep your risk managed,
Mariano.