Bitcoin UPDATE: 40K Bounce, will we continue upwards?
On our last Bitcoin broke down the 46K - 52K range, and found support at our 40K zone.
In the recent days BTC made a bounce, printing a hammer candle with two following green candles showing strong buy, which indicates potential reversal to the upside.
Today is a red day and we still haven't left the downtrend since the ATH. The nearest meaningful resistance is the 46K zone, the support of the previous range.
These are times to be cautious, there is a good chance that we make a retest of the 40K Zone, to either form a double bottom or to break down to lower lows.
So the most relevant levels to look for trades are the 40K support zone and the 46K resistance zone.
Trade safe!
In the recent days BTC made a bounce, printing a hammer candle with two following green candles showing strong buy, which indicates potential reversal to the upside.
Today is a red day and we still haven't left the downtrend since the ATH. The nearest meaningful resistance is the 46K zone, the support of the previous range.
These are times to be cautious, there is a good chance that we make a retest of the 40K Zone, to either form a double bottom or to break down to lower lows.
So the most relevant levels to look for trades are the 40K support zone and the 46K resistance zone.
Trade safe!
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