Bitcoin PUMP
Why has Bitcoin gone up?
In my opinion, the price rejected a very strong Weekly support, which is the confluence with a backside Monthly support ($25200) (so it indicates that the movement will be a strong one up), as a target it formed a Weekly descending range trend.
Also, the current movement was compressed by another Weekly descending range trend, the moment it breaks it will generate a big reaction (which happened).
On the daily, again, the price rejects a critical support formed on 1h ($26637) (the movement is even stronger upwards, considering that it is above the Weekly range trend).
To see a much bigger increase, it is necessary for the price to consolidate above that weekly resistance from $29240.
In my opinion, the price rejected a very strong Weekly support, which is the confluence with a backside Monthly support ($25200) (so it indicates that the movement will be a strong one up), as a target it formed a Weekly descending range trend.
Also, the current movement was compressed by another Weekly descending range trend, the moment it breaks it will generate a big reaction (which happened).
On the daily, again, the price rejects a critical support formed on 1h ($26637) (the movement is even stronger upwards, considering that it is above the Weekly range trend).
To see a much bigger increase, it is necessary for the price to consolidate above that weekly resistance from $29240.
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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.