Bitcoin Is Rejecting A Strong Demand Zone
Hi Traders,
Bitcoin has been a pretty dead market for investors in the past few months. However, the current market structure looks interesting as BTCUSD is building momentum for a big move.
The chart above shows that Bitcoin's recent decline unfolded as a triple zigzag pattern. Wave z retested the wedge support line + strong demand zone.
We might see huge buying activities at this zone and the breakout of the descending trendline could lead to a major trend reversal.
What's your view on Bitcoin? Let me know in the comment.
Thanks for reading!
Bitcoin has been a pretty dead market for investors in the past few months. However, the current market structure looks interesting as BTCUSD is building momentum for a big move.
The chart above shows that Bitcoin's recent decline unfolded as a triple zigzag pattern. Wave z retested the wedge support line + strong demand zone.
We might see huge buying activities at this zone and the breakout of the descending trendline could lead to a major trend reversal.
What's your view on Bitcoin? Let me know in the comment.
Thanks for reading!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.