Looking at Bitcoin´s price development, from another point of view:
After finding support at the Quarterly Pivot building a bullish hidden divergence, Bitcoin is at the moment within a resistance zone of a former intra-consolidation high of 2018. This has already been resistance before, and generally, if we close this week´s candle above this level, Yearly R1 is the must-have resistance to break. Current midterm support is around $9.5k. The diagonal trendline coming down from ATH seems broken, too early to say. A lot of bearish scenarios are on the best way to disappear. Always set stops.
__________________________
Warm regards,
Neru
After finding support at the Quarterly Pivot building a bullish hidden divergence, Bitcoin is at the moment within a resistance zone of a former intra-consolidation high of 2018. This has already been resistance before, and generally, if we close this week´s candle above this level, Yearly R1 is the must-have resistance to break. Current midterm support is around $9.5k. The diagonal trendline coming down from ATH seems broken, too early to say. A lot of bearish scenarios are on the best way to disappear. Always set stops.
__________________________
Warm regards,
Neru
