$BTC has been rejected violently from an old diagonal trendline in todays dump.
Market now has to decide wether
_ to push up hard on the monthly to wick through 9.3k level in order to turn the trendline into support and reaching the next floor for further upside.
Don`t be suprised by some massive greens tmorrow then.
or
_ to close monthly below 8.5k resistance and suffering a severe pullback to at least retest the wedge it just broke out upwards with ATH volume this month.
but
_ most likely we enter a month of - call it - 'consolidation' - with some minor accumulation/distribution periods ranging from 7.798$ - 8.487$ - to take a breath before pushing up further to the 12k range.
What do you guys think? Will there be another surge or is it healthy to pullback and fuel up first?
.... this doesn't claim to be classic TA nor financial advice ....
Market now has to decide wether
_ to push up hard on the monthly to wick through 9.3k level in order to turn the trendline into support and reaching the next floor for further upside.
Don`t be suprised by some massive greens tmorrow then.
or
_ to close monthly below 8.5k resistance and suffering a severe pullback to at least retest the wedge it just broke out upwards with ATH volume this month.
but
_ most likely we enter a month of - call it - 'consolidation' - with some minor accumulation/distribution periods ranging from 7.798$ - 8.487$ - to take a breath before pushing up further to the 12k range.
What do you guys think? Will there be another surge or is it healthy to pullback and fuel up first?
.... this doesn't claim to be classic TA nor financial advice ....