Bears were rejected multiple times and have so far kept the support at $10k price range. Two possible pattern were formed on 1H timeframe, signaling at a possible short-term reversal of downtrend. If prices stay above the shoulders' lowest value, it is highly likely to continue up.
Judging by the BTCUSD/SPX chart below, we are testing the downtrend channel in which we've been stuck since 2018. More correction is absolutely possible, so below $9.8k I'm bearish on the short term.
Judging by the BTCUSD/SPX chart below, we are testing the downtrend channel in which we've been stuck since 2018. More correction is absolutely possible, so below $9.8k I'm bearish on the short term.
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Trading at 9950$, BTC is dangerously close to breaking down to $9k. Still holding though :)
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BTC bounced off 9,920$ :)
The minimum required for trend reversal confirmation:
Break through resistance at 10,640$
Keep at least 9,930$ or more as support
The minimum required for trend reversal confirmation:
Break through resistance at 10,640$
Keep at least 9,930$ or more as support
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All feedback is highly appreciated!
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BTC was unable to conquer $10,150, correcting further down is highly likely.
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BTC price fell to $9,850, followed by a big green candle that drove prices to $10,217. BTC currently trading at $10,015+ and I remain strongly bullish on the short term, as long as BTC price stays above $9,800 - $9,990.
