As said in my last idea, Bitcoin had resistance at 59k.
We can see that it rejected that level and is now probably pulling back to the support level (also mentioned before) at 55.5-56k which is also in confluence with the fib 50% level. We want to see Bitcoin test that level and shoot back up.
A break and a close below 55.5k on the 4H chart could signal a trend reversal.
For now, I remain bullish of course and am still looking for the break and the close above 59k after the bounce.
Any questions?
Good luck traders
Remember to respect your rules
We can see that it rejected that level and is now probably pulling back to the support level (also mentioned before) at 55.5-56k which is also in confluence with the fib 50% level. We want to see Bitcoin test that level and shoot back up.
A break and a close below 55.5k on the 4H chart could signal a trend reversal.
For now, I remain bullish of course and am still looking for the break and the close above 59k after the bounce.
Any questions?
Good luck traders
Remember to respect your rules