possible retest to the previous support level for COINBASE:BTCUSD by Muska17 — TradingView

From this signal we can expect two things in a first time :

– a re-test of the 32k-ish level, that we represent here with a rectangle . This zone was a resistance (first red circle) which was broken on january 6. This zone then acted like a support (second red circle) on january 11, 12 and 13. It is reasonable to expect a re-test here ;

– the second scenario is that the signal breaks the yellow trend line to the upside, resuming the bullish trend . To break the trend line , the signal needs to reach the 40k+ level.

In a second time, If the 32k support zone breaks to the downside, we can expect

the signal to reach the previous resistance level (27k-ish, that we represent here with a rectangle ).