Bitcoin | Tries to break a scheme from 15 August
-Since 15 August we put lower highs as you can see easily.
- If price break above 19.700$ this resistance line will be broken but it doesn't mean we will go into the uptrend. Also be careful about fake break outs/stop hunting around 19.900$ levels.
- If we broke the resistance it doesn't mean we go to the uptrend immediately because as you can see we broke a resistance 11 August and we went through another on 15 August so be careful.
- An interesting fact that last time we stay under the last resistance from 31 May 2022, 71 days 20 hours and broke it (even if for a couple of days)
- Now today's daily close will be exactly this far away from 15 August.
- I don't see bright days for BTC for a while because of global economy collapsing possibilities but last couple of weeks BTC diverged from the NASDAQ and less volatile at it's strong support level is a good fact for longs.
- Still you have to consider that there will be some more hard days for BTC and it has to resist for crushes. Closest event is Fed Press Conference at 02 November 2:00 p.m. FOMC Meeting.
- If price break above 19.700$ this resistance line will be broken but it doesn't mean we will go into the uptrend. Also be careful about fake break outs/stop hunting around 19.900$ levels.
- If we broke the resistance it doesn't mean we go to the uptrend immediately because as you can see we broke a resistance 11 August and we went through another on 15 August so be careful.
- An interesting fact that last time we stay under the last resistance from 31 May 2022, 71 days 20 hours and broke it (even if for a couple of days)
- Now today's daily close will be exactly this far away from 15 August.
- I don't see bright days for BTC for a while because of global economy collapsing possibilities but last couple of weeks BTC diverged from the NASDAQ and less volatile at it's strong support level is a good fact for longs.
- Still you have to consider that there will be some more hard days for BTC and it has to resist for crushes. Closest event is Fed Press Conference at 02 November 2:00 p.m. FOMC Meeting.
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