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Bitcoin – Holding Above LT S/R Zone For Now

Bitcoin – Holding Above LT S/R Zone For Now
Chris CapreChris Capre2ndskiesforex

Price Action Context

After a long-term corrective pullback into the key support around 6500$, buyers came back mid-December last year and have since pushed price 3500$ higher, clearing a LT S/R zone in the process.

Trending Analysis

Our long-term bias on Bitcoin is bullish and if this long-term S/R zone holds as support, further upside is likely. A strong daily break and close below 9000$ on the other hand would open up for a potential move down towards 6500$-7500$ again.

Long-Term Key Support & Resistance Zones

R: 13000 - 13900
S: 9050 - 9750

Visit our website at 2ndSkies for more price action content, free trading lessons, strategies and videos. Find out how we can help you to change the way you think, trade and perform.

Visit our website at 2ndSkies for more price action content, free trading lessons, strategies and videos. Find out how we can help you to change the way you think, trade and perform.

Author

Chris Capre

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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