Welcome back to the technical analysis of $BTCUSD.
On my previous chart, I warned everyone about the gray line or the falling wedge, and as expected, bears was looking for that opportunity. After we haven't seen a bounce yet after breaking the wedge. A light of hope was on our 4hr chart because of the bullish divergence that is forming. In addition, Fib retracement also is confluence with the support I also watch. Because of this facts, I think we'd be able to see a bounce now. If it doesn't hold, the next support is on 7898 price but if it bounce, the target resistance will be the 8360 area.
What do you think?
Twitter: @CryptoBot
Fb: EjdLaw
On my previous chart, I warned everyone about the gray line or the falling wedge, and as expected, bears was looking for that opportunity. After we haven't seen a bounce yet after breaking the wedge. A light of hope was on our 4hr chart because of the bullish divergence that is forming. In addition, Fib retracement also is confluence with the support I also watch. Because of this facts, I think we'd be able to see a bounce now. If it doesn't hold, the next support is on 7898 price but if it bounce, the target resistance will be the 8360 area.
What do you think?
Twitter: @CryptoBot
Fb: EjdLaw