Hi Traders, Investors and Speculators of the Charts 📈📉
A quick update on BTC from my side. Bitcoin is facing a strong supply zone around $26K, in other words the bears are defending this zone heavily and will be looking to open shorts here.
If there is enough buying pressure, ideally we want to see a candle close ABOVE this zone (turquoise trend line).
Coincidentally; we're also trading right on top of the parallel resistance trendline channel :
Even IF we see consolidation UNDER this zone, in other words sideways trading in a tight range right underneath the turquoise resistance zone, that would still be considered a bullish sing since it indicates that bulls are weakening the resistance zone.
Interested in Ethereum and altseason? Check out this idea:
_______________________
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CryptoCheck
A quick update on BTC from my side. Bitcoin is facing a strong supply zone around $26K, in other words the bears are defending this zone heavily and will be looking to open shorts here.
If there is enough buying pressure, ideally we want to see a candle close ABOVE this zone (turquoise trend line).
Coincidentally; we're also trading right on top of the parallel resistance trendline channel :
Even IF we see consolidation UNDER this zone, in other words sideways trading in a tight range right underneath the turquoise resistance zone, that would still be considered a bullish sing since it indicates that bulls are weakening the resistance zone.
Interested in Ethereum and altseason? Check out this idea:
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
