Cryptocurrencies

Update Bitcoin 1D

As expected, the price has made a strong push and managed to break the high range with force, currently the price has made a confirmation throwback to continue its upward path, the movement support is located at 9575, the current candlestick close at 1H has been with penetrating bullish candlestick, A good sign of reversal, however, the price could still take the central supply or low of this consolidation, we must take into account, but not rely on such movement, if the buying power is strong can continue without taking such demand, remember that the price has barely left a range that has lasted 1 week.

In this other graph we see how the price has achieved the closure above the figure with good purchase volume.

In 1D we see that the close has been very positive, we have achieved a strong bullish close above this key level, this is a great bullish signal in the short term, the price should continue its course towards the key resistance located within the price range of 10400 – 10900, we should also pay attention to the level of 10200 which also represents a resistance level in Fibo.

In conclusion, the bulls have correctly defended the support of the range, managing to reject and take the price above the high range, now we have a buy signal in 1D, also the current structure in 1H is giving us a signal to continue, the 9500 flip is an important step in the trend, it will be a strong support, it is not necessary to mention that we also have weekly and monthly candlestick giving a strong bullish signal, we have very good times ahead, but we must advance cold and patiently during each step, the price should keep the support located at 9575 and flip above 9678, the EW points marked on the chart can still vary in relation to the acceleration that the price takes during the course, therefore, I recommend being very attentive to the action of the price in 1D and always remember to place your stop losses to avoid possible invalidations during the movement.

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