In yesterday's post, I was looking for Bitcoin to break up from the double bottom formation. While the price action was a bit messier than I would have liked, price did eventually break above the neckline and the 200MAs and had a nice rally. Price is now in horizontal consolidation between 34.4K and 34.7K, getting ready for a breakout. A break above 34.7K with strong volume will likely see price rally higher, though there is trendline resistance at 35.1K that we need to keep track of. A break below 34.4K with volume will likely send price down to the 200MAs, where we could potentially look for a long trade if price bounces off of the 200MAs and flip it from resistance to support.
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
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5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
4. Live syncing of popular crypto tweets
5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
