BitcoinUpdated key margin pressure levels
i'm still leaning short here, but looking at current margin pressure levels to get a better idea of where price might find support/resistance.
next, i'm expecting we'll test the key support around
31K where the H&S neckline, the minor down trend line, and the 4x selling pressure level intersect.
if price finds support there, we've got more than enough recent history of support/resistance levels within the range.
if price breaks down from there, next stops would be 27.5k and 24.5k-25k.
if bulls rally, we could see a retest of the major down trend line.
margin pressure levels:
short (41.34k resistance) = dotted lines
long (28.6k support) = solid lines
red = 10x
fuchsia = 7x
orange = 5x
yellow = 4x
green = 3x
blue = 2x
next, i'm expecting we'll test the key support around
31K where the H&S neckline, the minor down trend line, and the 4x selling pressure level intersect. if price finds support there, we've got more than enough recent history of support/resistance levels within the range.
if price breaks down from there, next stops would be 27.5k and 24.5k-25k.
if bulls rally, we could see a retest of the major down trend line.
margin pressure levels:
short (41.34k resistance) = dotted lines
long (28.6k support) = solid lines
red = 10x
fuchsia = 7x
orange = 5x
yellow = 4x
green = 3x
blue = 2x
Note
moment of truth. should be an interesting week.
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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.