BTCUSD retracing to continue uptrend or is it going to crash?
Hey guys, I dont trade BTCUSD, I am not holding any BTC as well, but just analysing for some of you shmucks. Please do like, comment and follow for more analysis. I would appreciate it. :)
On daily, we can see it has broken the TL, but it hasnt broken the zone. You can see the rejections pointed by the arrows. (Remember zones are stronger than trendlines) It has to break the zone to break the uptrend, so it still in an uptrend.
Looking at this, I think we might be making a higher low to continue upwards and go to 60k to make a higher high. But ofc, if it breaks the zone, then I see 40k as the next zone it could go to.
On daily, we can see it has broken the TL, but it hasnt broken the zone. You can see the rejections pointed by the arrows. (Remember zones are stronger than trendlines) It has to break the zone to break the uptrend, so it still in an uptrend.
Looking at this, I think we might be making a higher low to continue upwards and go to 60k to make a higher high. But ofc, if it breaks the zone, then I see 40k as the next zone it could go to.
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