BTC is currently at $78,380 and this level is important to watch out for.
bitcoin has been trading around the $76,000 - $81,000 area after the recent move higher, and price is currently holding above a key area around $77,300 - $77,026.
this is the zone I will be watching for entry.
if buyers hold this area and price can retrace back to the demand, I would expect a move toward $81,264.
the setup i'm watching is simple:
> demand: $77,300 - $77,026
> target: $81,264
> sl: around $76,502
if the demand zone holds, BTC could move even more than the target.
but if we lose the zone with strong momentum, the bullish setup is invalidated and further downside could follow.
for now, i'm watching the reaction around demand. ^^
DYOR.
bitcoin has been trading around the $76,000 - $81,000 area after the recent move higher, and price is currently holding above a key area around $77,300 - $77,026.
this is the zone I will be watching for entry.
if buyers hold this area and price can retrace back to the demand, I would expect a move toward $81,264.
the setup i'm watching is simple:
> demand: $77,300 - $77,026
> target: $81,264
> sl: around $76,502
if the demand zone holds, BTC could move even more than the target.
but if we lose the zone with strong momentum, the bullish setup is invalidated and further downside could follow.
for now, i'm watching the reaction around demand. ^^
DYOR.
