The squeeze is in, we have 3 levels which might save us from going down to the Pit of Doom :
1. There's a 3D level at ~10000$ , which might get pierced through quicker than imagined, since it already got smashed several times
2. There's a 1D level at ~9400, which aligns with lower BB, therefore it should be stronger than average 1d line
3. The third and the most powerful level is ~9000$, which aligns with MA150. If this one doesn't hold, we're most likely going down to ~7500$ area again.
1. There's a 3D level at ~10000$ , which might get pierced through quicker than imagined, since it already got smashed several times
2. There's a 1D level at ~9400, which aligns with lower BB, therefore it should be stronger than average 1d line
3. The third and the most powerful level is ~9000$, which aligns with MA150. If this one doesn't hold, we're most likely going down to ~7500$ area again.
Note
BTC did smear around the 10000$ for a long time, and the indecisiveness resulted in a huge red candle, absolutely smashing through the 1D, 3D and 1W supports. Now it's temporarily holding at the 3D support at ~8500$.
A) if it sharply bounces up through the 9000$,
BTC is back in the upward move, and we might expect rush towards 13000$ once againB) if it slowly goes back up towards the 9000$, it will play out a school example of support turned resistance, with a high chance of bouncing DOWN again, to the ~7500$ area
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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.