Bitcoin Getting Hammered or Doeas MELT-OFF FACE PHASE BEGINS !
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At the moment while this idea is being released, Bitcoin seems to be getting rejected from the White Trendline, which has been previous Resistance pushing the price down when getting in-to contact with it trying a Break-Out.
However, last 24 hours have been an amazing Ride for Bitcoin and Altcoins, and Bitcoin is looking good so far in price action staying above 20EMA on the 1HR as support after a rally-cross 20EMA had with the 50EMA.
Is Bitcoin being hammered just in a short term as a means of correction from the last 24 hours and a Breakout will Occur with the White Trend Line?
Or will the White Trendline which is Strong Resistance will send Bitcoin down again, creating a Lower Low and continuation Bearish pattern until we test 20MA on the Daily ?
Share your opinion down below at the comment section on how things will play out from here, I'll be interested on others opinion ...
Interesting hours ahead for full confirmation, we'll keep you guys updated.
DISCLAIMER
NOTE that his is not Financial Advice!
Please do your own research before partaking on any trading acitvities based upon this idea
Trade Safe !
However, last 24 hours have been an amazing Ride for Bitcoin and Altcoins, and Bitcoin is looking good so far in price action staying above 20EMA on the 1HR as support after a rally-cross 20EMA had with the 50EMA.
Is Bitcoin being hammered just in a short term as a means of correction from the last 24 hours and a Breakout will Occur with the White Trend Line?
Or will the White Trendline which is Strong Resistance will send Bitcoin down again, creating a Lower Low and continuation Bearish pattern until we test 20MA on the Daily ?
Share your opinion down below at the comment section on how things will play out from here, I'll be interested on others opinion ...
Interesting hours ahead for full confirmation, we'll keep you guys updated.
DISCLAIMER
NOTE that his is not Financial Advice!
Please do your own research before partaking on any trading acitvities based upon this idea
Trade Safe !
Note
Bitcoin broke-out after THE SHORT CALL was given so you could be aware due to Bitcoin facing an Heavy Resistance that had been tested three times previously, hammering the price down when getting to that barrier.
After Breakout Bitcoin, is looking healthy, and The Bullish Sentiment has captured the market <3 .
Bitcoin re-tested the breakout and had a wick below to the 50EMA testing it as Support.
Bitcoin has room to rally and test at least 58k level, 60K and ATH at 65k.
Those would be prices to look for a possible pullback as Resistance Areas.
I remind you to make your own research before investing upon this idea.
This it can all be a fakeout for as little as we know, and trend can turn bearish at any moment.
Trade Safe!
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