BTC movement now depends on retention / breakout levels.

Updated

BTC possible movement options depending on the retention / breakout of important local support / resistance levels.

If support is now breaking through and the price is fixing below it, then all this 3-week flat acts as a canvas of the downward flag - the first target is -11% This trading idea published 2.5 weeks ago is being implemented.

Perhaps a downward flag is being formed on BTC. Target -12%

If, nevertheless, we hold this level and continue to continue lateral movement, then it is very possible to start the movement inside the canvas between local support and resistance. Potential + 11%.

Then you need to look at the situation, if we break through the resistance of this 3-week flat and the price fixes above it, then it is more likely to make + 11% (together + 22%) in the zone of strong resistance (former support for the triangle).

I also ask you to pay attention to the downtrend of the same triangle, it can also hinder the price, and if it is overcome, it can be a good launching pad for growth. How will this mean that the downtrend angle dictated by the past triangle formation is broken.

Note

BTC / USD There is a breakdown of the channel of the local channel
Work according to the short scenario to the level of 7 thousand. Further from the reaction of the level.

Note

did not reach the level of 7 thousand dollars a little. He made a false breakthrough of the channel down. Further momentum up is + 42%. Thus, the resistance of the previous channel and, most importantly, the downtrend were broken. Nevertheless, I am inclined to believe that, judging by the panic of the purchase and the nature of the movement, let's go along the bullish scenario and develop the 2016 fractal.

BTC фрактал 2016 года. Флет 77 дней и выстрел. Тренд. Теория Доу

It is very important where the price will be fixed after the impulse.

Note

BTC Fractal 2016. Flat 77 days and a shot. The trend. Dow Theory

Note

Trading idea with work areas for September 27th.

As we can see, the zones work out perfectly. You can see the way out of the price from the zone of $ 7000-7600 to the important area of the downtrend that I designated in advance. There is a trend puncture, no more. The only important thing is fixing the price. If there is a consolidation above the downtrend, then this will mean a change in the downtrend. And at the moment we are in a general downtrend. All options for working from different situations, I described in great detail in several trading ideas and videos.

SpartaBTC

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