Today, we are going to look carefully at the price action seen on the hourly chart which is showing
that the BTCUSD has briefly reached the important psychological resistance level of 60'000.
More important is to analyse the recent and current price action !!!
Indeed, the top of the ongoing uptrend channel has once again been briefly broken on the upside, which
trigger a first warning reversal signal shooting star -doji !
Therefore, price action over the coming hours will be crucial for the short term future.
Indeed, a failure to clearly break and hold above 60'000 would add further selling pressure, calling for further
downside towards 58'500 first (cluster support) ahead of 58'000 (MBB) and leading indicator.
UPSIDE :
The highest weekly closing level seen so far is 59'980 which corroborate perfectly my analysis which tell me that a
weekly closing level above 60'000 would be very positive and would confirm further upside towards previous ATH over the coming
week.
Do you like my analysis ?
Please do not forget to like it and to follow me as well.
"Alone you go faster and together we go further" :-)
Have a nice day and all the best
Take care
Ironman8848
that the BTCUSD has briefly reached the important psychological resistance level of 60'000.
More important is to analyse the recent and current price action !!!
Indeed, the top of the ongoing uptrend channel has once again been briefly broken on the upside, which
trigger a first warning reversal signal shooting star -doji !
Therefore, price action over the coming hours will be crucial for the short term future.
Indeed, a failure to clearly break and hold above 60'000 would add further selling pressure, calling for further
downside towards 58'500 first (cluster support) ahead of 58'000 (MBB) and leading indicator.
UPSIDE :
The highest weekly closing level seen so far is 59'980 which corroborate perfectly my analysis which tell me that a
weekly closing level above 60'000 would be very positive and would confirm further upside towards previous ATH over the coming
week.
Do you like my analysis ?
Please do not forget to like it and to follow me as well.
"Alone you go faster and together we go further" :-)
Have a nice day and all the best
Take care
Ironman8848
Upside : 59'500
Downside : 58'900
A breakout of one of those 2 levels will show the next move calling respectively for :
a) a retest of the the former high @ 60'000
or
b) a move towards the next significant support area around 58'450/58'000 previously mentioned (see above)