On our latest update on Bitcoin yesterday we said that there where 2 possibilities to happen which were easy to guess. Our "most likely" scenario take the stage and Bitcoin retraced to 6.8k level and re-bounce again. It seems the it tested the support level on both the 10k to 5.7k retrecment and on 8.5k to 6.7k retracement levels. It seems we are again in a possibility to see Bitcoin testing the strong resistance at 7.4k level. If it can break and close above the stated resistance level we might have a big possibility to start a leg up towards the 8.5k level. In addition to this all the setups on the May chart pattern before we see the big downward trend are showing themselves again on this weeks Bitcoin chart pattern. Besides in our 4H chart Bitcoin created a falling wedge pattern once again which can be taken as one additional potential indication for the uptrend startup till it finds a consolidation area. Stay tuned to our channels to get more updates. Don't forget to give a like if you agreed with this idea. or put your comments below if you disagree on it.
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You can also follow our telegram channel for more news, TA, FA, and trading tutorials. With Regards.
