BTC heading towards new ATH or not yet?
Updated
Bullish scenario.
BTC price finally broke out through the resistance we had at 63k-64k. And the ranging channel also we had - broken out to the upside. Nice strong H4 close also above 64k
Scenario 1 – Looking for continuation and a H4 close above 67200 for new ATH.
Scenario 2 (more likely) – If price pulls back to retest previous resistance that should act now as support, I will be adding to my long position on BTC that I have opened at around 61k on a test of PWH and the support zone at 63-64k.
I do not want to see BTC to close on the H4 bellow the Support. Unless it will be just a fake out.
Will be watching how Mondays range develops and tomorrow should have a clearer picture.
for now, all looking nice and strong.
Lowest price I want to see go is 62k at the MO and continue up towards new ATH.
Bearish scenario.
Scenario 3
If we get a close bellow 64k and price will hold under – then this small pump will be a fake out and close under S/R will be a deviation and my price target will be around 53500. As there is also a small FVG (fair value gap).
Will be watching PA and see what happens on the levels I mentioned. Updates to follow
https://www.tradingview.com/x/9jDkVJbc
https://www.tradingview.com/x/DAZMdjNc/
BTC price finally broke out through the resistance we had at 63k-64k. And the ranging channel also we had - broken out to the upside. Nice strong H4 close also above 64k
Scenario 1 – Looking for continuation and a H4 close above 67200 for new ATH.
Scenario 2 (more likely) – If price pulls back to retest previous resistance that should act now as support, I will be adding to my long position on BTC that I have opened at around 61k on a test of PWH and the support zone at 63-64k.
I do not want to see BTC to close on the H4 bellow the Support. Unless it will be just a fake out.
Will be watching how Mondays range develops and tomorrow should have a clearer picture.
for now, all looking nice and strong.
Lowest price I want to see go is 62k at the MO and continue up towards new ATH.
Bearish scenario.
Scenario 3
If we get a close bellow 64k and price will hold under – then this small pump will be a fake out and close under S/R will be a deviation and my price target will be around 53500. As there is also a small FVG (fair value gap).
Will be watching PA and see what happens on the levels I mentioned. Updates to follow
https://www.tradingview.com/x/9jDkVJbc
https://www.tradingview.com/x/DAZMdjNc/
Trade active
Still in my long. Read the new Idea Ive posted today for the update and what im looking for.
Trade safe, stay safe and do not over leverage.
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