$BTC Update: Technical bounce or trend reversal?
After yesterday's bloody bath, buyers managed to execute a technical bounce and form local support.
As seen on the hourly candlestick chart, the price has come to test the ema50 and almost reached the short trend line. If buyers can break through this zone, it opens the path for testing local resistance where ema200 is located.
What are the key levels?
Local support zone: The formed green order block below in the range of $60,600 – $61,100. If support doesn't hold, the price may go for liquidity below yesterday's low.
Nearest resistance for the bulls: The EMA 50 (~ $61,884) and the short trend line (red line) just above it. The bearish order block and EMA 200 (~ $63,201), which lies right inside the bearish order block (red resistance zone around $62,800 – $63,250).
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After yesterday's bloody bath, buyers managed to execute a technical bounce and form local support.
As seen on the hourly candlestick chart, the price has come to test the ema50 and almost reached the short trend line. If buyers can break through this zone, it opens the path for testing local resistance where ema200 is located.
What are the key levels?
Local support zone: The formed green order block below in the range of $60,600 – $61,100. If support doesn't hold, the price may go for liquidity below yesterday's low.
Nearest resistance for the bulls: The EMA 50 (~ $61,884) and the short trend line (red line) just above it. The bearish order block and EMA 200 (~ $63,201), which lies right inside the bearish order block (red resistance zone around $62,800 – $63,250).
If you got the levels — hit like and subscribe so you don't miss the next update!