A Neutral Idea on BTC not Bear or Bull
Updated
NOTA: Para Español, Ir hasta abajo!
What do you say about this scenario, Sellers are getting tired if you can say it so, we have less volatility day after day since weeks ago, maybe it could indicate a bottom perhaps??? we are at #1 return point I signaled before on other analysis, we can have a Bounce over the 6k support line, we have been here for 3 days in a row, that didn't happen since months ago, and the SAME Logic used for resistance we should use it for Support TOO.
Orange Line #1 IF in the next hours we don't break down this Support Area to the 5.4k levels and downer, we should have a spike. And this SPIKE should Break the 6.4k Level of resistance (a Relevant one) which is converging with EMA 26-30 too, AND the bearish Trendline (So this is a Big Resistance Area Right Now). Then, We can make a Trip to the next Resistance Trendline in the 8.2kish (Remark This) We could Break it for Further movements or be rejected as expected to lower points maybe bellow 6k to 5kish and lower. READ THIS WELL AND CAREFULLY, don't get caught by FOMO later and don't say no one warned about it, This could be a trap for bull and bears too.
Blue Line #2 We can definitely break the bearish trendline from January, and we can go again to test the 10k, specifically 9.8k (in this area there is a lot of Resistance too and it is a psychological WALL like the GOT one with the white walkers and stuff). We can expect a rejection here since it is so hard to pass thought, indicating a False breakout of the January Trendline and go to retest again 6k and lower supports. (Maybe to #2 Return point-you shall see previous analysis to know what I'm talking about).
Yellow Line #3 We break #2 Setups and go to next resistance at the 11-12kish area, were major Resistance is stablished before a Bull run can set it's foot. This is the furthest target I honestly can see within my scenarios. I expect a rejection here if we consider a market cycle not finished yet at this point. IF we get over this area (12k) then a bull run or at least near the 20k run could easily take place (I would have to do other calculations here) so in essence consider this scenarios.
Red line 1 and 2 #4 We break Down the 6k levels to next support areas 5.4k and 4.5k with the lowest probable point in the 4.2k, at the same time we get at the 2nd point of return (check previous analysis) and get in a stable growth.
NOTE: Other fact I can support on is the RSI, it shows a possibility for an upward movement in July, Check the RSI and it's previous behavior, right now it is testing resistance, if it breaks it we shall see further movements on the price of course.
Good Luck!.
__________________
ESPAÑOL
¿Qué dice sobre este escenario? Los vendedores se están cansando si se puede decir, tenemos menos volatilidad día tras día desde hace algunas semanas, ¿tal vez podría indicar un fondo quizás? estamos en el punto de retorno n. ° 1 que señalé antes en otro análisis, podemos tener un Rebote en la línea de soporte de los 6k, hemos estado aquí durante 3 días seguidos, eso no sucedía desde hace meses, y la MISMA Lógica que se utilizó para los puntos de resistencia, deberíamos usarlo también para Soportes.
What do you say about this scenario, Sellers are getting tired if you can say it so, we have less volatility day after day since weeks ago, maybe it could indicate a bottom perhaps??? we are at #1 return point I signaled before on other analysis, we can have a Bounce over the 6k support line, we have been here for 3 days in a row, that didn't happen since months ago, and the SAME Logic used for resistance we should use it for Support TOO.
Orange Line #1 IF in the next hours we don't break down this Support Area to the 5.4k levels and downer, we should have a spike. And this SPIKE should Break the 6.4k Level of resistance (a Relevant one) which is converging with EMA 26-30 too, AND the bearish Trendline (So this is a Big Resistance Area Right Now). Then, We can make a Trip to the next Resistance Trendline in the 8.2kish (Remark This) We could Break it for Further movements or be rejected as expected to lower points maybe bellow 6k to 5kish and lower. READ THIS WELL AND CAREFULLY, don't get caught by FOMO later and don't say no one warned about it, This could be a trap for bull and bears too.
Blue Line #2 We can definitely break the bearish trendline from January, and we can go again to test the 10k, specifically 9.8k (in this area there is a lot of Resistance too and it is a psychological WALL like the GOT one with the white walkers and stuff). We can expect a rejection here since it is so hard to pass thought, indicating a False breakout of the January Trendline and go to retest again 6k and lower supports. (Maybe to #2 Return point-you shall see previous analysis to know what I'm talking about).
Yellow Line #3 We break #2 Setups and go to next resistance at the 11-12kish area, were major Resistance is stablished before a Bull run can set it's foot. This is the furthest target I honestly can see within my scenarios. I expect a rejection here if we consider a market cycle not finished yet at this point. IF we get over this area (12k) then a bull run or at least near the 20k run could easily take place (I would have to do other calculations here) so in essence consider this scenarios.
Red line 1 and 2 #4 We break Down the 6k levels to next support areas 5.4k and 4.5k with the lowest probable point in the 4.2k, at the same time we get at the 2nd point of return (check previous analysis) and get in a stable growth.
NOTE: Other fact I can support on is the RSI, it shows a possibility for an upward movement in July, Check the RSI and it's previous behavior, right now it is testing resistance, if it breaks it we shall see further movements on the price of course.
Good Luck!.
__________________
ESPAÑOL
¿Qué dice sobre este escenario? Los vendedores se están cansando si se puede decir, tenemos menos volatilidad día tras día desde hace algunas semanas, ¿tal vez podría indicar un fondo quizás? estamos en el punto de retorno n. ° 1 que señalé antes en otro análisis, podemos tener un Rebote en la línea de soporte de los 6k, hemos estado aquí durante 3 días seguidos, eso no sucedía desde hace meses, y la MISMA Lógica que se utilizó para los puntos de resistencia, deberíamos usarlo también para Soportes.
Trade active
Línea Naranja # 1 Si en las próximas horas no rompemos a la baja este área de soporte, nos vamos a los niveles de 5.4k o mas abajo, deberíamos tener un Alza. Y este ALZA de precios debería romper el nivel de resistencia de 6.4k (uno relevante) que también converge con EMA 26-30 y, la línea de tendencia bajista (entonces este es un área de resistencia grande ahora mismo). Entonces, podemos hacer un viaje a la próxima línea de tendencia de resistencia en los 8.2k (Observa esto) Podríamos romperlo para futuros movimientos o ser rechazado como se espera a puntos mas bajos, quizás por debajo de 6k a 5k o más bajo. LEA ESTO BIEN Y CUIDADOSAMENTE, no se deje atrapar por FOMO más tarde y no diga que nadie advirtió al respecto, Esto podría ser una trampa para los toros y los osos también.Blue Line # 2 Definitivamente podemos romper la línea de tendencia bajista de enero, y podemos volver a probar los 10k, específicamente 9.8k (en esta área también hay mucha Resistencia y es un MURO psicológico como el de GOT con los caminantes blancos y esas cosas). Podemos esperar un rechazo aquí ya que es tan difícil superarlo, lo que indica un breakout falso de la línea de tendencia de enero e ir a volver a testear los 6k y soportes inferiores. (Tal vez al Punto de Retorno # 2: verás un análisis previo para saber de qué estoy hablando).
Línea amarilla #3. Rompemos las condiciones #2 y pasamos a la siguiente resistencia en el área de 11-12 k, donde se estableció la resistencia principal antes de que cualquier Bull Run pueda tener lugar. Este es el objetivo más lejano que honestamente puedo ver en mis escenarios. Espero un rechazo aquí si consideramos que todavía no se ha completado un ciclo de mercado en este punto. Si pasamos por encima de esta área (12k), entonces podría tener lugar movimientos alcistas o, al menos, cerca de la marca de los 20k (tendría que hacer otros cálculos a partir de aquí), así que, en esencia, consideré estos escenarios.
NOTA: Otro hecho en el que puedo respaldarme es el RSI, muestra la posibilidad de un movimiento ascendente en julio, compruebe el RSI y su comportamiento anterior, en este momento está probando la resistencia, si se rompe, veremos mayores movimientos con dirección norte en el precio por supuesto.
¡Buena suerte!.
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.