BITCOIN: A trend CORRECTION up to 34k!
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🟢Forex Pair:
BITCOIN/USD
⚪Technical Analysis:
On the 27th of January 2021, the price got a strong rejection on the level at about 30.000, that pushed it up with a clear bullish impulse, breaking through the S/R zone at about 34k, reaching an interesting strong resistance zone at about 39k, level that rejected the price many times since the beginning of January 2021.
It has just re-tested the same level and the next price action will be essential to understand the next market movement.
My previous analysis:
🔴Conclusion:
The price is re-testing many times the level between 38k and 39k, without breaking it. It previously got a strong bullish impulse and I'm confident to see now a possible trend correction until the support zone at 34.5k.
That would be a short term trade but honestly, I'll be waiting for the price to reach the level 34.5k, before planning a long position that I'll update soon!
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
BITCOIN/USD
⚪Technical Analysis:
On the 27th of January 2021, the price got a strong rejection on the level at about 30.000, that pushed it up with a clear bullish impulse, breaking through the S/R zone at about 34k, reaching an interesting strong resistance zone at about 39k, level that rejected the price many times since the beginning of January 2021.
It has just re-tested the same level and the next price action will be essential to understand the next market movement.
My previous analysis:
🔴Conclusion:
The price is re-testing many times the level between 38k and 39k, without breaking it. It previously got a strong bullish impulse and I'm confident to see now a possible trend correction until the support zone at 34.5k.
That would be a short term trade but honestly, I'll be waiting for the price to reach the level 34.5k, before planning a long position that I'll update soon!
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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