BTC/USD
After a massive drop we experience this week, BTC still manages to bounce right at the last trend-line of support which is located at around 4k. $4000 was also the previous resistance area of the ascending triangle that gives us a parabolic pump last 2019. If Bitcoin can recover a V-shape in the coming weeks or months. This potential inverse H&S has the chance to play out as long as this green line of support will remain intact. But this is still too early to buy Bitcoin. We must be cautious and wait for daily confirmation before entering the market.
After a massive drop we experience this week, BTC still manages to bounce right at the last trend-line of support which is located at around 4k. $4000 was also the previous resistance area of the ascending triangle that gives us a parabolic pump last 2019. If Bitcoin can recover a V-shape in the coming weeks or months. This potential inverse H&S has the chance to play out as long as this green line of support will remain intact. But this is still too early to buy Bitcoin. We must be cautious and wait for daily confirmation before entering the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.