"Level @ $6450-$6500, if we break this then we have bearish confirmation and probably the next support would be $6200-$6300" as we said yesterday, we got our break confirmation and also we got our bounce back up from $6200 support level! At the moment BTC makes some squeeze upwards and right now price fighting whit resistance level $7500! We had there several attempts already but not enough buyers to close one candle above $7500 to confirm bullish price action! In 4h chart we have a hammer and sloppy morning star candlestick patterns to also confirm some bullish momentum! So we watch at the moment closely level @ $7500 and if we want to break this then we need a very strong candle and if this happens then it happens FAST!
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Have a nice day!
Leave a comment and if You agree then hit the LIKE button!
Have a nice day!
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We got our strong candle but in 1h timeframe price bounced quickly back below $6500. Looks like the buyers are there! But we need to close above the $6500 in 1h chart to see more bullish moves! We are close...but, but I hope that buyers' steam will not run out!
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At the moment we could see slightly higher high and higher low formations on BTC 15 min chart! To form new HH we need firstly break above $6500 and break down also 200EMA to catch next resistance which is around @ $6650
And if we break below $6437 we go and retest triangle resistance (becomes a support) line which is around $6340!
And if we break below $6437 we go and retest triangle resistance (becomes a support) line which is around $6340!
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Bottom LH is meant to be HL - sorry for that!
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7th attempt was successful to break $6500 in 1-hour chart and we got our breakout confirmation( 1hour and 4 hour candle close above $6500)! Also price close was above 200EMA (in 1h) which is also one bullish sign. Maybe retest some lower areas and the road is open to the next resistance $6650
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If I said, we could probably retest the lower levels, then damn - I did not think 6000 :D This green box is the nearest support level, if this breaks we could go and retest the triangle upper blue line! But after this fight around $6500, I think that buyers' steam runs out! But now definitely we have LL close and let's see what the market offers to us!
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Fakeout sign - Railroad tracks, not perfect pattern but classic fakeout! Firstly we have to wait to 4h candle close before we make significant decisions!
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We have a red area - this is a strong support (no candle close in this box) if this hold us we could see some H&S pattern to start forming but right now is a little bit early to say! But looks promising at the moment!
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Boom...Looks like retail traders wanted to buy this above $6500 and they did it & after that came whales into play to take tight stops out and there we are now! Thats how market works and as I mentioned earlier next resistance is $6650 - we touched this almost by the pip!! More updates and graphics comes tomorrow!
Have nice evening/day!!
Have nice evening/day!!
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