BItcoin Looks like Accumulation
Current price action looks like accumulation as there are several hammers on the daily around the support of 9600 which I have stated to be support provided by the horn top. If price does not close on a weekly candle below 9600, then it is extremely likely that we might see another move up. Given that these are hammers, I feel as if the price of 9600 will hold for now, and there will be consolidation right here for another move up. If I were to estimate the likely price points objects, I would say horizontal supports of 10000, 10400, 10800-10900, and 11100-11200 would become horizontal resistance.
The green horizontal line would be the current support provided by the hammer, a significant break of that and I would claim that it has been invalidated. Still, a weekly close below 9600 would validate the horn top which has a corresponding price objective of 5800.
Lol It popped as I was writing this.
On-going Analysis:
The green horizontal line would be the current support provided by the hammer, a significant break of that and I would claim that it has been invalidated. Still, a weekly close below 9600 would validate the horn top which has a corresponding price objective of 5800.
Lol It popped as I was writing this.
On-going Analysis:
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