BTC rises after breaking Trendline and view coming
On the 4h BTCUSD chart, BTC price rallied after breaking the downtrend line from April 14, 2023.
It is too early to tell if BTC's bull run is a transition to a bull phase or just a reaction to the news.
Here are 2 plans for BTC:
1. Bull but not bullish: price needs to accumulate at Rs1 and Rs2, before increasing further and will consolidate for a more sustainable rally.
2. Watch carefully: price may retest the Sp1 area but this support is not strong, if price breaks through the trendline then it is a perfect setup for bull trap phase. This scenario is not liked by anyone.
I refer to plan 1 more than 2.
Meanwhile some altcoins perform well!
ETCUSDT 2h
OPUSDT 2h
APTUSDT 2h
What do you think about this? Please leave a comment!
It is too early to tell if BTC's bull run is a transition to a bull phase or just a reaction to the news.
Here are 2 plans for BTC:
1. Bull but not bullish: price needs to accumulate at Rs1 and Rs2, before increasing further and will consolidate for a more sustainable rally.
2. Watch carefully: price may retest the Sp1 area but this support is not strong, if price breaks through the trendline then it is a perfect setup for bull trap phase. This scenario is not liked by anyone.
I refer to plan 1 more than 2.
Meanwhile some altcoins perform well!
ETCUSDT 2h
OPUSDT 2h
APTUSDT 2h
What do you think about this? Please leave a comment!
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.