The price of Bitcoin almost drew a cup… Almost.
BTCUSD is still within its sideways movement. A little bit up, a little bit down, but no direction. Slowly, slowly it was drawing a cup, a long awaited bullish signal. However, it seems that this cup will not be completed. Right now, BTCUSD is climbing along the green dotted uptrend-line, touching the blue curve twice within this uptrend. However, it is still far away from reaching the upper side of the cup, drawn by the blue curve. There is a huge lack of upside momentum.
BTCUSD even broke the blue curve to the downside. I think that we have to forget about reaching the target of 12000 for now. Soon, it will touch the double support Pivot point and green dotted uptrend-line. Will it be able to break this strong support?
Pivot point is at 10738. Should BTCUSD drop below Pivot point, we will have to expect an accelerated downward movement. Support levels will be 10380, 10128, 9853, 9470, 5511.
BTCUSD even broke the blue curve to the downside. I think that we have to forget about reaching the target of 12000 for now. Soon, it will touch the double support Pivot point and green dotted uptrend-line. Will it be able to break this strong support?
Pivot point is at 10738. Should BTCUSD drop below Pivot point, we will have to expect an accelerated downward movement. Support levels will be 10380, 10128, 9853, 9470, 5511.
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