Hi, I hope you're well
The support zone that has been drawn since 2017 is very very important. As long as we are at the top of this zone, there is no need to worry. But if the daily candle closes completely between this zone, it's a great alarm for all market. And if it lost these lines, we will be badly affected :( But if we can suffer above this range for the next two weeks or so, we can see a heavy sharp (more up, but maybe down).
https{://}www{.}tradingview.com/x/RYPBYTwO/
Also, the EMA50 worked very well in the weekly time frame, and if that support is lost, we can go to the depths of the market, I mean the 2017 ceiling (something around the same 19k-21k).
But my own opinion is in the next two weeks we will see the price range of 33_43 and from there we can guess the main decision of the market.
Closing remarks: For now, everything is empty. And the 500% bit target is not far from the mind :) But we must be careful not to miss the high support.
Do not consider the above description as a signal and it is all my personal opinion
Good luck
The support zone that has been drawn since 2017 is very very important. As long as we are at the top of this zone, there is no need to worry. But if the daily candle closes completely between this zone, it's a great alarm for all market. And if it lost these lines, we will be badly affected :( But if we can suffer above this range for the next two weeks or so, we can see a heavy sharp (more up, but maybe down).
https{://}www{.}tradingview.com/x/RYPBYTwO/
Also, the EMA50 worked very well in the weekly time frame, and if that support is lost, we can go to the depths of the market, I mean the 2017 ceiling (something around the same 19k-21k).
But my own opinion is in the next two weeks we will see the price range of 33_43 and from there we can guess the main decision of the market.
Closing remarks: For now, everything is empty. And the 500% bit target is not far from the mind :) But we must be careful not to miss the high support.
Do not consider the above description as a signal and it is all my personal opinion
Good luck
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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.
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.