Don’t get it twisted
$59,000 - $60,000 is an active zone
In order for Bitcoin to see ATH:
1. Bitcoin must move above the 59,000 level with volume, then retest the level from the upside to the downside, then reject the downside move back to the highs.
-This is because of liquidity confidence. If buyers want to see a breakout, they will need buying power which occurs usually at an area of realized support or resistance.
2. If BTC can retest and reject, it must do the same at 60K if it doesnt already blow by it. That would give the most confidence about the upward move.
3. Once the retest and rejections come into play, we want to see a breakout pattern.
-Right now there looks like a possible bull flag into the level which I like a lot
4. We need straight volume. If we slow down, we might not see the ATH this week. If buyers slip the tape to the sellers we might be headed down and fast.
Then then our Bitcoin Halving play might execute in mid March or April.
Might keep that one to myself unless you want it ✅
Goodluck in markets everyone, and lets see if Bitcoin can get to the all time highs 📈
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moo Contributor
Alkaline Analyst
All Deep Dives:
https://medium.com/@alkalinedeepdives
1442Followers
9Following
4976Visitors
Follow