#BTC Bitcoin spot price 64200+.
In my post yesterday, I said the upward momentum was clearly insufficient. If we can’t get above 65700 on Monday, it’s very likely we’ll retrace back to the 64000_64100 support zone—meaning a pullback to the red downward trendline and the Fibonacci 0.386 support. And BTC has indeed pulled back, with the low dipping to around 63800.
Look at the current chart 2: you can see that at the 4-hour level, BTC’s uptrend that had been consolidating upward along the middle band of the Bollinger Bands for a week has been broken, and the Bollinger Bands have opened up.
Chart 3: for reference on nearby resistance and support, the overhead resistance is around 64650, near the Bollinger Bands middle band and the Fibonacci 0.5 level. Support is around 63800; if it breaks, then you can expect to see 62300.
Overall suggestion: for now, it’s best to observe first and be cautious about going long. If price can reclaim and hold above 64650, then consider further observation. If support at 63800 breaks, you may selectively go short and look toward support around 62300.
$BTC $TUT $TST
In my post yesterday, I said the upward momentum was clearly insufficient. If we can’t get above 65700 on Monday, it’s very likely we’ll retrace back to the 64000_64100 support zone—meaning a pullback to the red downward trendline and the Fibonacci 0.386 support. And BTC has indeed pulled back, with the low dipping to around 63800.
Look at the current chart 2: you can see that at the 4-hour level, BTC’s uptrend that had been consolidating upward along the middle band of the Bollinger Bands for a week has been broken, and the Bollinger Bands have opened up.
Chart 3: for reference on nearby resistance and support, the overhead resistance is around 64650, near the Bollinger Bands middle band and the Fibonacci 0.5 level. Support is around 63800; if it breaks, then you can expect to see 62300.
Overall suggestion: for now, it’s best to observe first and be cautious about going long. If price can reclaim and hold above 64650, then consider further observation. If support at 63800 breaks, you may selectively go short and look toward support around 62300.
$BTC $TUT $TST