Direct from the desk of Dane Williams.
After a clean retest of the higher time frame zone, we'd been waiting for Bitcoin to rip off support.
We'd seen price rip higher off the zone in the past and when we saw it holding again with some nice wicks into it on the hourly, we were always looking to buy.
BTC/USD Daily:
And there we go.
Not only did Bitcoin bounce off the level, but it went straight through the next higher time frame resistance zone we had sitting on our charts.
Price action around this new zone looks a bit messy, so let's wait and see where price actually settles before looking to day trade around this one.
I keep getting asked whether this rip because of the upcoming Bitcoin halving?
Honestly... I don't know and don't really care.
Find your levels, trade your levels.
You can make this trading game as simple or as hard as you like.
Best of probabilities to you,
Dane.
FOREX BROKR | Hive Blog
Higher time frame market analysis.