Tuesday, August 20, 2019

Technical Analysis: Feb. 4 2018, BTCUSD nearing major support.

While many are not excited with all the talks surrounding BTCUSD going lower, there is possibly an upside to it all. The upside is the weekly support just below $6000.

On the smaller time frame (Daily) BTCUSD is coming into the second touch of a major support. Meaning with momentum allowing, it will go through to the next support.

Keep in mind that while this is all happening, there is still a massive falling wedge happening (bullish pattern) which many consider to be a sign that BTCUSD is building up bullish momentum to breakout to a new all time high.

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