Bullish Above 53.2k on HTFs?
Very simple theory. 53.2k has been an area of contention for Bitcoin. Hold above it to remain bullish, lose it to continue down.
It became bearish when it lost 53.2k back in November of 2021. Just prior to that it tested that level after dropping from its April 2021 ATH, dipped, and then broke above it to make Nov 2021's ATH.
Back in February of this year that level again acted as a resistance to a move up and a 3rd ATH.
Since then we've dipped back to that level and.. so far.. remained above it.
It became bearish when it lost 53.2k back in November of 2021. Just prior to that it tested that level after dropping from its April 2021 ATH, dipped, and then broke above it to make Nov 2021's ATH.
Back in February of this year that level again acted as a resistance to a move up and a 3rd ATH.
Since then we've dipped back to that level and.. so far.. remained above it.
Note
Also interesting that 53.2k is the exact center of a support level drawn from ATH 1 to the March/April 2022 peak just before the extended downturn that lasted until Nov.You might call this something like, center of a ATHs fair value gap:
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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.