Critical Point on the Daily for BTCUSD

8 ต.ค. 2020

Today we touched the central pivot point (green P) on the daily chart. This is now a critical point for BTCUSD. As you can see in the past (two red arrows from July) we touched this green P once and got rejected and on the next try, we broke it and made a huge move up.

We are still above the 200 EMA so we are bullish but right now under the green P which acts now as resistance. We still have some hours left in the daily but as soon as we close multiple daily candles above the green P I'm turning bullish and ride it up to R1 (12000) / R2 (13200).

We have to wait some days to see if we get rejected or if we are able to break it. Also a fakeout can happen here. So be careful.