Bitcoin | Is This The Time For The Price To Rise Again?
The panic caused during the last two weeks pushed the price lower by testing
in this way, a support area was later seen on Jan-21 and Jul-21.
This was a potential scenario for pattern completion.
The expected support area was between 28.70 and 30.5K and as we can see
the price reacted very well until this moment.
On the left side of the chart we can also see long weekly candles.
The probability is very high that the price can stay in this area for some time before it
resumes the bullish movement again.
if the candle of this week will be closed as the previous one this will increase the chances for a bullish movement.
Thank you and Good Luck!
The panic caused during the last two weeks pushed the price lower by testing
in this way, a support area was later seen on Jan-21 and Jul-21.
This was a potential scenario for pattern completion.
The expected support area was between 28.70 and 30.5K and as we can see
the price reacted very well until this moment.
On the left side of the chart we can also see long weekly candles.
The probability is very high that the price can stay in this area for some time before it
resumes the bullish movement again.
if the candle of this week will be closed as the previous one this will increase the chances for a bullish movement.
Thank you and Good Luck!