Accumulation Structure Last Point Of Support in The Making
Bitcoin has been in a sideways range since Jan 24th after dropping from ATH in November. Since then accumulation structure has formed and showed sign of strength at the begining of March by hitting 45.352 and rejected from 200MA.
Following this rejection, Bitcoin started printing higher lows and has successfully broke above 200MA in it's second attempt.
I'm expecting a re-test of 200MA as a LPS and continuation towards 47k as sign of strength, so i'm buying this re-test.
If we manage to break 47k, new upwards momentum can take us towards 50k-60k range where we'll need to re-accumulate before moving up further.
Slava Ukraine!
Following this rejection, Bitcoin started printing higher lows and has successfully broke above 200MA in it's second attempt.
I'm expecting a re-test of 200MA as a LPS and continuation towards 47k as sign of strength, so i'm buying this re-test.
If we manage to break 47k, new upwards momentum can take us towards 50k-60k range where we'll need to re-accumulate before moving up further.
Slava Ukraine!
