#bitcoin price now testing the 1D ichimoku cloud resistance and also newly claimed 4H cloud. With 59K dip, #btc surged a bullish inverted head and shoulder pattern and bounced well.
Now, upper orange box is the deadly resistance zone. Why? Because, #btcusd formed a wedge for 2 months, price breakdown the triangle and now hanging below the triangle. If
BTC
will continue this bull, it must reclaim the triangle and then breakout the wedge. Upper orange box is the test zone if it goes to reclaim the trend.
If price declines from the upper orange box, then #btcusdt price will confirm the bearish retest and the lower orange boxes will be the support zones and probable targets.
Not financial advice.
Now, upper orange box is the deadly resistance zone. Why? Because, #btcusd formed a wedge for 2 months, price breakdown the triangle and now hanging below the triangle. If
BTC
will continue this bull, it must reclaim the triangle and then breakout the wedge. Upper orange box is the test zone if it goes to reclaim the trend. If price declines from the upper orange box, then #btcusdt price will confirm the bearish retest and the lower orange boxes will be the support zones and probable targets.
Not financial advice.
