CRITICAL decisive moment as BTC heads towards final BOSS battle
Updated
The weekly 11.5k is going to be super crucial - Because.
1. It governs the mid term down trendline from the recent local highs.
2. It is also the massive weekly resistance of 11.5k - which has been tested like 4 times.
I strongly believe if BTC breaks above 11.5k we could be seeing ATH's for bitcoin very soon.
This is also the reason why its better to be cautious around this region considering what is it at stake. There could very well be a fakeout of some sort to fool the bears/bulls and lull them into a trap.
I am currently short from 10.9k area, Will flip long if i feel price might test higher again. It's a pretty decent place to manage risk.
Also the bottom trendline in the chart extends all the way back to 2016, So if we break that trendline, btc could be in big trouble!
Trade well my friends, And i wish you well. Do not dismiss bitcoin's bull scenario- If BTC takes out 20k - Nobody knows how far it might go. I do hope this is the legitimate start of the bull market, But till 11.5k is taken out with force - It's better to be cautious around the area of strong resistance.
I am currently neutral , and will definitely trade the way the water(price) flows!
1. It governs the mid term down trendline from the recent local highs.
2. It is also the massive weekly resistance of 11.5k - which has been tested like 4 times.
I strongly believe if BTC breaks above 11.5k we could be seeing ATH's for bitcoin very soon.
This is also the reason why its better to be cautious around this region considering what is it at stake. There could very well be a fakeout of some sort to fool the bears/bulls and lull them into a trap.
I am currently short from 10.9k area, Will flip long if i feel price might test higher again. It's a pretty decent place to manage risk.
Also the bottom trendline in the chart extends all the way back to 2016, So if we break that trendline, btc could be in big trouble!
Trade well my friends, And i wish you well. Do not dismiss bitcoin's bull scenario- If BTC takes out 20k - Nobody knows how far it might go. I do hope this is the legitimate start of the bull market, But till 11.5k is taken out with force - It's better to be cautious around the area of strong resistance.
I am currently neutral , and will definitely trade the way the water(price) flows!
Note
Took profits at 10.3k area. Just gonna wait this out and trade further based on daily charts now.Note
10.4k being tested quite a few times. could possibly break higher.
Note
Not a fan of trading this area TBF. Its a middle of nowhere range where a lot of consolidation happens...Interested in trading at 10.1k and 10.8k this 10.4k range i will pass on.
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I'll trade further based on how it reacts at 10450 level. But not a fan of this area at all.Note
Ok that was something i was sort of looking for. a test of 10.1k and then a pump up but i didn't expect it to be this radical. I am long from 10.3k area, But will be monitoring price action very closely with a quick stop. The daily is NOT BEARISH yet. This is a tough tough spot to be trading - But i will watch this and won't hesitate to go out of this position with a very tight stop.
Note
4h resistance of 10450 is still not broken. If price looks like it will go down again, I will likely switch to a short..But long for now. This is very very hard to trade at this area.Note
Not trading this range out for now and waiting for the daily to close. I might short it if btc closes below 10.3k but we'll see.
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