BitcoinUpdated BTC: 24400 to 24530 Acting as Resistance for Next 12 Hours
Hi Everyone! The current location (level) of the Red Line in the 8-hour and 12-hour time frames suggest the "odds" are much higher of the Yellow B-Band Basis in the 8-hour acting as resistance (24,400) and the Magenta Upper B-Band in the 12-hour acting as resistance (24,530). We need to wait until the next 8-hour and potentially the next 12-hour to get a better grasp as to whether we can rise up higher than the $24,400 to $24,530 price range.
I hope this was helpful.
Happy Trading and Stay Awesome!
David
I hope this was helpful.
Happy Trading and Stay Awesome!
David
Note
UPDATE:24-hour candle:
Potential is there to come down to the Yellow B-Band Basis
either this 24-hour candle or the next 24-hour candle. The
Yellow B-Band Basis is sitting at $23,266 at this writing.
Note
UPDATE:We are currently at the Magenta Upper B-Band in the 12-hour time frame; as mentioned in the video. Let's see if it continues to act as resistance or "over-extends up" the remainder of this "current" 12-hour candle.
Note
If my new Trend Swing Script were applied to BTC earlier, this is what the previous "short" trades would have been. The current short would still be open. Does this mean "take profit targets" can not be provided to "take profit" at price points during periods of downward pressure before the script acknowledges a potential change of trend to sideways or reversal back to upward pressure? No... I most certainly could provide take profit targets using the Red and Blue Lines from Phoenix Ascending and the Bad Ass B-Bands. I'm looking forward to getting back to work on the script; tuning it to different pairs; etc... after I complete 2022 taxes. Now, I must get back to work on taxes...
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.
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.