BTCUSD stuck is range, but how long ?
Updated
BTCUSD price stuck in range between 36200 as range resistance and range support
as 35250, in resistance level, price respected 4 times, and at support level it
was also four. and look close at point 1 there bearish rally started and from
point 2 bullish showed some strength but not as impressive as bearish rally.
interestingly at both point price didn't cross that level.
On higher time frame, trend is bearish so i should have to look for short setup at
near resistance, or strong resistance level in which price could respect.
Trend line an hr. time frame basis
!Strong close above 36660 should be bullish move.
Technical- Based on Support/Resistance and trend line:
- Range Support:35250
- Range Resistance: 36200
- Strong Resistance: 36660
! leave feedback or comment please.
Check out mentioned idea in it.
Image-
as 35250, in resistance level, price respected 4 times, and at support level it
was also four. and look close at point 1 there bearish rally started and from
point 2 bullish showed some strength but not as impressive as bearish rally.
interestingly at both point price didn't cross that level.
On higher time frame, trend is bearish so i should have to look for short setup at
near resistance, or strong resistance level in which price could respect.
Trend line an hr. time frame basis
!Strong close above 36660 should be bullish move.
Technical- Based on Support/Resistance and trend line:
- Range Support:35250
- Range Resistance: 36200
- Strong Resistance: 36660
! leave feedback or comment please.
Check out mentioned idea in it.
Image-
Note
support broke, overshoot on trend line, and rested on next support level.Note
Great story end with respecting both level Support and resistance, Price respected support and huge buying momentum, crossed 35250.
Trade closed: target reached
Note
Update 1.1:Respected support (2): 33770 (need correction in trend line)
Note
Update 1.2:Breakdown (0): Level- 33770 became resistance
Next Support: 31940
did Respect resistance ? : No
Bear rally sign: No
Note
Update 2.0:Respected 31940, need correction in trend line
Respect Resistance : No
Bullish rally sign: No
Note
Update 3.0:Respected 29400, need correction in trend line
Respect resistance: Yes
Bullish sign: Yes (Support)
Note
Update 3.3:Respected 33668, need correction in trend line
Is respect 35250 ?
Bearish sign: Yes (volume indication)
Note
Update 3.3.1:Respected 33250: Yes,
Bearish sign: Yes (volume indication)
Note
Update: 3.3.2:Respected 33250(2): Yes
Bearish sign: Yes (volume indication)
Support (33770) broke: yes
Note
Next support: 32000Note
Update: 4.0:Rested Support :32000
Broke down
Resistance: 32000,
Respected: Yes
Bull rally: 30250
Note
Comment: Update 5.0:Broke above: 32000,
Support: 32000
Resistance: 33770
Bull sign : No
Bear sign: No
Note
Version: 2Broke resistance: 32000,
tested next resistance 35250,
Broke next resistance
tested next resistance 36660, Once
and support 35250
Note
Resistance: 36660,Bear rally sign: No
Tested: No
Support: 35250
Tested: No
Note
Broke resistance: 35250, Tested : Yes
Note
Update: 6.0Broke support: 33770,
Tested: many times
Bullish sign: No
Bearish: No
Trend: Bearish
Related publications
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.