BTC broke through its long term down trend line right around May 18th flipping it into a new support line to follow, as well pushing for the bullish outcome in my previous analysis.
We still have a psychological resistance zone at 10-10200, and after five failed tests to break.. I am beginning to look for BTC to touch some lower levels before taking off.
Could easily see a retest of 82-8400 as to test its new support line, if this outcome plays out, I personally don't see a break of 8000, but a test of 74-7600 is feasible.
On the chance of a bullish outbreak on our next retest of 10k, our next important resistance zone I have eyes on is 11700-12350.
Personally betting on the push down down to 8400 with a bounce at support line..
We still have a psychological resistance zone at 10-10200, and after five failed tests to break.. I am beginning to look for BTC to touch some lower levels before taking off.
Could easily see a retest of 82-8400 as to test its new support line, if this outcome plays out, I personally don't see a break of 8000, but a test of 74-7600 is feasible.
On the chance of a bullish outbreak on our next retest of 10k, our next important resistance zone I have eyes on is 11700-12350.
Personally betting on the push down down to 8400 with a bounce at support line..