BTC Hitting Confluence of Support - Possible Reversal Area

Taking a look at the weekly chart for BTC, you can see that Bitcoin is hitting a confluence of support from 1) the 2017 all-time high and 2) long-term uptrend originating from Jan 2015. We are also repeating the same price action fractal from 2017-2020. If this support holds, this could be the ideal entry point for the next bull run. However, a breach of this support area could be very bad for the crypto space. Get your buys ready on the chance we bounce here. Otherwise, I will be looking to re-load much lower.

Commentaire:

A massive amount of buy volume just went into BTC. In fact, according to the 4-Hour chart, it was the most volume we've seen in over a year. That's a pretty good buy signal to me.