BTC - D1 - SRATEGIG HEAT MAP
D1 : As you can see on this daily chart I draw an heat map which gives
a clear picture of a strategic positioning on BTC
1) Current situation :
BTC is roughly traded in the middle of the 36600-42000 trading range
which means that as long as we stay above 36600 it is OK.
Scenario bullish : a clear breakout of former high at around 42'000 should
trigger an upside move acceleration which will open the door for the next
psychological resistance of 50'000 at least.
Scenario bearish : a failure to hold above 36600 would open the door for an
intermediate uncertainty trading range of roughly 2000 points (36600-34550)
2) Breakout of support of 34550
Would put BTC in critical situation facing potentially former support zone around
the psychological 30000 area (former congestion support zone)
3) Breakout of psychological support of 30000
Would trigger a sharp selloff which would put the focus on 27426 (38.2% Fi ret ahead of the 23'000 area which is the 50%
Fibonacci retracement (22925) of the big move starting @ 3850 towards 42000 and also Mid
Bollinger Band (MBB 23357) on the weekly chart !
a clear picture of a strategic positioning on BTC
1) Current situation :
BTC is roughly traded in the middle of the 36600-42000 trading range
which means that as long as we stay above 36600 it is OK.
Scenario bullish : a clear breakout of former high at around 42'000 should
trigger an upside move acceleration which will open the door for the next
psychological resistance of 50'000 at least.
Scenario bearish : a failure to hold above 36600 would open the door for an
intermediate uncertainty trading range of roughly 2000 points (36600-34550)
2) Breakout of support of 34550
Would put BTC in critical situation facing potentially former support zone around
the psychological 30000 area (former congestion support zone)
3) Breakout of psychological support of 30000
Would trigger a sharp selloff which would put the focus on 27426 (38.2% Fi ret ahead of the 23'000 area which is the 50%
Fibonacci retracement (22925) of the big move starting @ 3850 towards 42000 and also Mid
Bollinger Band (MBB 23357) on the weekly chart !
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.