-Yurlo
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Price action talk: (bitcoin)
Downtrend: 2 validation points
Uptrend: 3 validation points
#1: Lower highs, and lower lows being painted on the chart, looking for a retest of $10,900 - $11,000 (trend needs 3 validation points, we have 2 on resistance and support. also, we're sitting under resistance which tells me lower support levels need tested according to structural integrity.
#2: Appears to be rejecting gann fan code red (channel)
#3: A move to "3" would test the fundamentals and structural integrity at this level.
#4: This area has no structural support and i'd like to see more fundamentals as support. which would take us back to $11,000 where we'll either bounce off support or break downwards towards $10,500.
Oscillator/momentum signal:
#1: Currently at mid-range, low range being swept could signal a possible buy around $10,950 - $11,085. Pay close attention to that level if it gets tapped.
Invalidation: $11,500 gets flipped into support triggering a leg up to $11,800.
Good morning folks, please do me a favour and smash that like button if you like these visuals 👍
Price action talk: (bitcoin)
Downtrend: 2 validation points
Uptrend: 3 validation points
#1: Lower highs, and lower lows being painted on the chart, looking for a retest of $10,900 - $11,000 (trend needs 3 validation points, we have 2 on resistance and support. also, we're sitting under resistance which tells me lower support levels need tested according to structural integrity.
#2: Appears to be rejecting gann fan code red (channel)
#3: A move to "3" would test the fundamentals and structural integrity at this level.
#4: This area has no structural support and i'd like to see more fundamentals as support. which would take us back to $11,000 where we'll either bounce off support or break downwards towards $10,500.
Oscillator/momentum signal:
#1: Currently at mid-range, low range being swept could signal a possible buy around $10,950 - $11,085. Pay close attention to that level if it gets tapped.
Invalidation: $11,500 gets flipped into support triggering a leg up to $11,800.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.