BTC / USD
After that drop yesterday
Bulls successed to push price into this range again (You can call it boring range )
📌WHAT ARE THE POSITIVE SIGNS ?
1- The volume in that candle is strong
2- The price didn't closed below 31k
3- This drop could be possible spring phase of wyckoff accumulation /fake breakdown) usually happens before uptrend started
4- weekly candles still didnt closed below 50 W moving average
Despite all these positive signs ..in short term bulls still need prove themselves by strong price action to break and fix price above resistance zone 34.5k-36.5k and after that we can try to test upper range between 39k-42k
However if any drop below 31k again will be strong alert that bears can attack for a potential lower low
The cryptomarket still in critical area for next 1-2 weeks as many mining industries will shift from china to other countries ...
📌 PERSONAL OPINION : I will keep watching next weekly candle closure to see if bulls will hold above moving average again or not
📌SUMMARY :
32-34k (neutral/ uncertainty)
31k and below = bearish
36.5k and above bullish toward upper range
After that drop yesterday
Bulls successed to push price into this range again (You can call it boring range )
📌WHAT ARE THE POSITIVE SIGNS ?
1- The volume in that candle is strong
2- The price didn't closed below 31k
3- This drop could be possible spring phase of wyckoff accumulation /fake breakdown) usually happens before uptrend started
4- weekly candles still didnt closed below 50 W moving average
Despite all these positive signs ..in short term bulls still need prove themselves by strong price action to break and fix price above resistance zone 34.5k-36.5k and after that we can try to test upper range between 39k-42k
However if any drop below 31k again will be strong alert that bears can attack for a potential lower low
The cryptomarket still in critical area for next 1-2 weeks as many mining industries will shift from china to other countries ...
📌 PERSONAL OPINION : I will keep watching next weekly candle closure to see if bulls will hold above moving average again or not
📌SUMMARY :
32-34k (neutral/ uncertainty)
31k and below = bearish
36.5k and above bullish toward upper range
For this scenario to be vaild BTC shouldn't close below 31k