Bitcoin update 07–07 — breaking suppression triangle ??
On the daily chart, we are still bearish and we are still waiting to break the 30k or the 40k level:
· Still making a bearish flag
· Under the SMA levels
· Under Ichimoku cloud
When do we become bullish again on the daily chart? As soon there is a good break of the 40k resistance and we are heading to 48k, that could confirm that there is a trend reversal again.
On the 4H chart, we see that we are facing the 35k resistance level once more and that we are continues making higher lows. Also, there are some Lower Higher made so this results in a suppression triangle. Breaking above the triangle will break the resistance zone. Breaking below will result in a move back to the 33k support level.
Look out for fake-out breaks!
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