Bitcoin market has shown a strong bullish candle after forming H&S pattern and bouncing back from the support zone. What's next?
Daily market is too bullish but we should know that it is still inside our range bound zone (12100-17500).
We have a strong Resistance at 17200-17300 zone which need to be watched closely for break out or bounce.
If current daily candle closes above 17500 level then 19700 is the next resistance area.
We have a strong bullish candle followed by Bullish hammer. If you are not in the trade currently then buying is not suggested at this level. If daily candle closes below 16500 then we are again going to see 15000 Level.
Support: 12500 , 14200
Resistance: 17400 , 19700
If market continue to act bullish then i will buy at 17500 level otherwise i have pending orders at around 15000 level with different volumes.
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