First we should take a look at the big picture on the weekly and overall I am still quite bullish as long as we remain above the downwards trendline.
Zooming in on the daily we can also notice trendline underprice action as well as a 200ema right under it.
Zooming in further as of now we are in a bearflag , so this may not be the best time to long when writing this however based on the trendlines I have layed out
10.1k should be important support. If that breaks then the CME gap will likely fill. and head towards 9200-9400ish
9200 is important as it is where the 2 year trendline will be as well as and 9400 if we connect the 2 lows and btc starts to wedge. It is unlikely 9200 will break on the first try and it will most likely cause a big bounce.
Zooming in on the daily we can also notice trendline underprice action as well as a 200ema right under it.
Zooming in further as of now we are in a bearflag , so this may not be the best time to long when writing this however based on the trendlines I have layed out
10.1k should be important support. If that breaks then the CME gap will likely fill. and head towards 9200-9400ish
9200 is important as it is where the 2 year trendline will be as well as and 9400 if we connect the 2 lows and btc starts to wedge. It is unlikely 9200 will break on the first try and it will most likely cause a big bounce.