Bitcoin: Compression before the next rise?

Bitcoin has definitely left its bearish channel and is now struggling to pass the pivot at 6800 USD.

Bitcoin

Highlight Keys

  • Pivot 6800
  • Bullish Trend
  • Compression Figure

Bitcoin forms a figure of compression, if he leaves it on the rise, he will join the 7600 USD.

Our analysis are entirely done on Binance charts

The trend is bullish on bitcoin. We left our downtrend channel, but we are facing a major resistance at 6800 USD. If we pass it, a return to 7700 USD should occur fairly quickly. On the other hand, hard to say for now if Bitcoin will leave the compression figure. However, a nice margin of profit is offered to us. The volumes start up again with the prices, as soon as we will have passed the 6800 USD the way will be free. In the meantime, we should evolve in the compression figure between 6400 and 6800 USD.

Comment se positionner ? 

The whole plan was perfectly followed, the resistance at 6800 USD was reached and we went out. We will resume position if this new resistance is passed to take advantage of the extension to 7700 USD.

Should we expect a new correction? ? 

It doesn’t seem so. We should move within the compression pattern before leaving it on the upside. 

 

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Key Levels  : 

  • Essentials resistances : 6800 – 7700 
  • Essentials supports :  6400 – 6300 

 

 

 

 

 

 


Disclaimer: This blog is only the showcase of my work. I expose to you all my personal analyzes, my personal trades, my personal investment decisions, or the positions that I judge good without taking them myself. We do not offer any investment advice and they are not trading instructions. Nevertheless, you are free to copy my judgments if you judge my work satisfactory

It is important to note and understand that cryptocurrency trading carries serious risks. You can lose capital, see more on some platforms. Take this into account and moderate your investment decisions. Never invest money that you can not afford to lose!

Reminder: The analyzes on the page cover a period of 12 to 48 hours and are optimized for Day Trading and not the long position. We give our long positions on our youtube channel.

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