Bitcoin is looking to break above the 20DMA resistance, finally , after dropping below it 1 month ago on 10 May. At today's closing we will get to know if the move is sustainable or not.
Currently Btc is sandwiched between resistance & support levels, moving towards the apex of the ascending triangle(red), a strong move upwards/downwards is due in max 2-3 days.
There's a Resistance confluence region from 8200-8500 comprising of 50fib, DMa's & the cloud.
Bullish bias will increase if today's closing is above 7600 level, then we will have 20DMA & Ts(conversion-line) as support below and if we get confirmation from volume then we can expect a break above the triangle trendline resistance.
On the downside, if we do not sufficient volume to break through upper resistances, then a fall to 6500-6800 region can be expected.
Currently Btc is sandwiched between resistance & support levels, moving towards the apex of the ascending triangle(red), a strong move upwards/downwards is due in max 2-3 days.
There's a Resistance confluence region from 8200-8500 comprising of 50fib, DMa's & the cloud.
Bullish bias will increase if today's closing is above 7600 level, then we will have 20DMA & Ts(conversion-line) as support below and if we get confirmation from volume then we can expect a break above the triangle trendline resistance.
On the downside, if we do not sufficient volume to break through upper resistances, then a fall to 6500-6800 region can be expected.
Note
bitcoin finally showing some action, just few minutes before the daily closing. Dropping below the triangle.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.