Bitcoin - EITHER / OR moment

16 במרץ 2023

Hi Traders, Investors and Speculators of the Charts 📈📉

A quick update on BTC from my side. Bitcoin is facing a strong supply zone around 26K, in other words the bears are defending this zone heavily and will be looking to open shorts here.
If there is enough buying pressure, ideally we want to see a candle close ABOVE this zone (turquoise trend line).

Coincidentally; we're also trading right on top of the parallel resistance trendline channel :

Even IF we see consolidation UNDER this zone, in other words sideways trading in a tight range right underneath the turquoise resistance zone, that would still be considered a bullish sing since it indicates that bulls are weakening the resistance zone.


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