BITCOIN: The price back to 30k? What's next?
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🟢Forex Pair:
BTC/USD
⚪Technical Analysis:
Since the 4th of January, the price has been following an interesting symmetrical triangle pattern, reaching and bouncing few times its dynamic S/R line.
On the 21th of January the price broke through its dynamic support line, getting a rejection on a strong support level at about 30000.00.
As we can see, this support worked so good every time the price reached that zone and it's now approaching to reach it again.
🔴Conclusion:
The price seems is slowly getting strenght and I'm confident to see it retesting the zone at about 30000 before moving up again around the level 34000.
Moreover, the RSI is also showing us a nice convergence and I'll be waiting for the retest of the 30k before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
BTC/USD
⚪Technical Analysis:
Since the 4th of January, the price has been following an interesting symmetrical triangle pattern, reaching and bouncing few times its dynamic S/R line.
On the 21th of January the price broke through its dynamic support line, getting a rejection on a strong support level at about 30000.00.
As we can see, this support worked so good every time the price reached that zone and it's now approaching to reach it again.
🔴Conclusion:
The price seems is slowly getting strenght and I'm confident to see it retesting the zone at about 30000 before moving up again around the level 34000.
Moreover, the RSI is also showing us a nice convergence and I'll be waiting for the retest of the 30k before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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