Bitcoin key area
Bitcoins ~100% run in 14 days has seen it run through resistance areas with ease, but will this momentum carry it through this key area? Currently broken the 38.2% retrace (17/12 -> 6/2)
Slightly beyond those levels we have the 50% retrace at 12.7k which was also a support area throughout late december/early january.
I remain bullish on making that 3rd wave but worth noting the divergence on 4h RSI
30 min chart (break/retest should act as short-term support)
- 100DMA
- Rough Parallel channel off 17/12 -> 6/1
- Upper pitchfork line
- Previous support area throughout mid/late January
Slightly beyond those levels we have the 50% retrace at 12.7k which was also a support area throughout late december/early january.
I remain bullish on making that 3rd wave but worth noting the divergence on 4h RSI
30 min chart (break/retest should act as short-term support)
Nota
Potential break of R1 targeting a strong zone median pitchfork and long term trend lineNota
Coming into this key area now which is also the weekly R1Nota
That was a rather strong reversal to that areaNota
Some weird shake out at key res, dumping across all cryptos.Found some support at previous resistance area / s1, see if prev support zone turns into res.
Nota
Testing what was the support zoneNota
What happened in wave 1 looking pretty similar to what is happening nowNota
Downside supNota
At the trend line
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