Bitcoin Charts

in #bitcoin2 years ago

This week did not finish above the resistance but, it did put a wick through the weekly trend line.

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To gain some insight into what next week may bring we must zoom in and look at the 1d candles.

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The orange trend line is the weekly trend line and is currently providing support. Price is also supported by the 21 Moving Average.

The green trend line is a daily trend line and is acting as resistance. As this is the first day of the new 1w candle, I expect some volatility. If the bulls can defend this support there is a high probability that this week gives us a volume break of the daily trend and the previous high.

If we get a break down today my sentiment will turn bearish and I will exit my long position.

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I bought the green box on the 4H chart. And I have another buy close to the bottom of the box.