Anticipatory Overview

We are sitting on a prior consolidation level (230-235).
These are the possible outcomes:
  • 235 holds, we break up, inverse H&S resolves, target 280-290
  • 235 breaks resulting in a meassured move down to 180

Last time market retested such a major consolidation level from above,
OBV was in a downtrend, thus price continued the downtrend.

Rightnow we have a similar situation only that OBV is in an uptrend.
This may be a hint for a bullish resolution of this situation.
Also we have a tripple bottom with long wicks at this level, suggesting strong support.
Large volume is required to create a convincing breakdown.

Check out the charts linked bellow for more details about my bullish bias here.

Cheers : ]
anticipationBitcoin (Cryptocurrency)Bullish PatternsconsolidationHead and Shouldersinverselevelmeassuredmoveoverviewsupport

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