Bitcoin (BTC): Last Week Got Secured By Bulls!! / What Now?
Bitcoin is yet to be back in it's 60s on a weekly timeframe after massive liquidity moved to lower zones (toward the middle line of Bollinger Bands).
We are not keeping an eye on potential further movement to lower zones, but the current weekly opening seems promising only for bulls. Despite that, we are below the major resistance zone, so we do not see any reason to panic yet!
Swallow Team
We are not keeping an eye on potential further movement to lower zones, but the current weekly opening seems promising only for bulls. Despite that, we are below the major resistance zone, so we do not see any reason to panic yet!
Swallow Team
Comment:
Another rejection has happened after price reached that target zone.
As mentioned earlier, as long as we hold that 200EMA zone we should not see any furhter upward movements here.
As of now, EMA is holding strong!
As mentioned earlier, as long as we hold that 200EMA zone we should not see any furhter upward movements here.
As of now, EMA is holding strong!
Comment:
Rejected by 200EMA and another 5% of market price movement was caught
Rejected by 200EMA and another 5% of market price movement was caught
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As we see the pressure being big here, we are monitoring for price to secure potentially below our sell zone, which would activate a full-scale correctional movement!