[Bitcoin] Fortunate rebound before $37K, not 100% Bull yet
#Crack #Bitcoin #Binance #Daily
- Fortunately, after the last briefing, Bitcoin has risen above the green inward trend line without confirming the 37k support.
- If Bitcoin show resistance at $41,132, which is the EQ value of the body of the Bearish Candle on March 21st, or closing the Daily Candle at $41,132 upwards, we can expect the possibility of further Bull Trend.
- However, a short-term Bear trend may occur with a single resistance of 41.5k, since there is a possibility that a bull trend may appear again after the support of the green inward trend line, it seems high risk to respond with a short position.
- As the resistance of 41.5k-41.9k has not yet been broken out, there is a possibility of the appearance of a blue triangular convergence surrounded by a green inward trend line and a resistance of 41.9k. For short-term trading position, take a short-position near 41.9k with a stop loss set as tight as possible and take a long-position near the green inward trend line are considered to be the least risky.
- If the 41.9k resistance is broken above the 44.2k-44.5k resistance, we can expect a Bull Trend.
- A break below the green inward trend line support should leave open the possibility of a rapid bear trend towards the 37k support on disappointment in upside expectations.
- Fortunately, after the last briefing, Bitcoin has risen above the green inward trend line without confirming the 37k support.
- If Bitcoin show resistance at $41,132, which is the EQ value of the body of the Bearish Candle on March 21st, or closing the Daily Candle at $41,132 upwards, we can expect the possibility of further Bull Trend.
- However, a short-term Bear trend may occur with a single resistance of 41.5k, since there is a possibility that a bull trend may appear again after the support of the green inward trend line, it seems high risk to respond with a short position.
- As the resistance of 41.5k-41.9k has not yet been broken out, there is a possibility of the appearance of a blue triangular convergence surrounded by a green inward trend line and a resistance of 41.9k. For short-term trading position, take a short-position near 41.9k with a stop loss set as tight as possible and take a long-position near the green inward trend line are considered to be the least risky.
- If the 41.9k resistance is broken above the 44.2k-44.5k resistance, we can expect a Bull Trend.
- A break below the green inward trend line support should leave open the possibility of a rapid bear trend towards the 37k support on disappointment in upside expectations.
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