Bitcoin: Bouncing off of support?

29 ביולי 2019

As we explained in our previous idea, there is a narrow support zone ranging from 9000-9300$. The recent price action has formed a candle with a rejecting shadow towards this area. This looks like a retest of this zone. However, this is not enough to justify going long here. Bitcoin first has to show some strenght, in order to generate a valid setup. Breaking the 10200 level - the last candlesticks highs would provide a long entry with SL just below 9000$.