BTC Support and Resistance | Direction and Price Analysis
Updated
- I told BTC will down to 18 K at December 21,and published confirmed analysis of it 3 day ago, 2. time the analyse removed from here, I publish it 3. time .
You can see from the graphics which published before.
These analyzes have now reached the expected support levels. Most likely, an upward movement should start now. But there is a fact that when we check whale boards with api queries, whales expect to collect goods at lower price levels. Although the accumulated orders here suggest that the price may decrease to 12K, let's try to predict the course technically with the language of graphics and indicators.
When we look at the big picture first, we can think that the D leg of the harmonic pattern may sag below fib 1.27. This gives us the 18K price levels.
When we look for a formation within fractals by narrowing the frame a little more, reducing the time period, chart with bar candles simplifying and clarifying the , this time we come across the classic head and shoulders formation. In this formation, the head and neck depth shows us the 18K price levels given by the fibonacci 1.27 measurement just before.
In the graph above, when we look at the old accumulation zone marked with a pen in the region that appears to be the target of has and Harmonic pattern formation, we also see that the accumulation zone is compatible with technical measurements. In addition, we see that there is an old strong accumulation area in the 12K levels pointed out by the whale book orders we mentioned at first.
In short, I think that the price will fall to 18k, but the fact that 12K is a strong area and that the accumulated whale orders in the stock exchanges are accumulated at 12K levels suggest that the price can hang here. But my personal opinion is that it will not fall to 12K. I think that the price will be in the consolidation for a while in the range of 23-18 k and will start a upward movement.
When we continue our measurement with other technical tools, when we project the peak with the schiff pitchfork and fib from where the trend first started, it confirms that the current price level is the resistance area, and if the decline continues, the resistance area it will encounter in the future will meet the price as a support, as we mentioned again.
But as I said, it is not my personal opinion that it falls here, I only evaluate the technical measurement. I think the price will return from the current levels by throwing a needle to 18K at most.
But just in case, I tried to explain the measurements without skipping the measurements in order to develop a perspective against all risks in your strategies.
If we draw a fib trend channel guided by the Gann box, first of all, when we look at the weekly period;
We can predict that the intersection of gann 0 and fib channel 0.5 will act as support in the 12-13K range.
Even though I don't think it will drop to these levels, I still share the measurements. I have also shown the compatibility of this area with the previous accumulation zones in the graphic below.
There is a strong possibility that the gann and fann intersections will also work as resistors in the future. I have marked these areas with a green pencil in the chart below.
If the decline continues, the green areas are marked as resistance, and the red areas as support and accumulation areas in the graph below, where the common fractal intersections are given.
The chart below is just my assumption, apart from measurement and analysis. I am not saying that it will be like this, but if we think that a new formation or pattern will emerge when the current harmonic pattern is completed, we can think that a new harmonic pattern may be formed by thinking that the green regions will work as resistance and the red regions as accumulation and support areas, as we claim in the current measurements. In this case, a graph will appear as follows.
The above graph is my personal view and a hypothetical drawing. I suggest you don't take it seriously. If you follow a path like a graph above, we can assume that prices can rise up to 32k again and will experience a serious decline from there again.
Now I will share a different graphic with you. You may think that the graphic I shared above is a coincidence. If we explain the graph;
First of all, what is this?. It is a form of measurement that is not included in the information in the books drawn according to the Fibonacci time period using Gann measurements.
I want you to look at the dates at the bottom of the graph. January 1, 2020 etc.
A gann box was created by taking the fibonacci time frame of the trendin, which was formed when Bitcoin was reflected on the first tradingview charts. This gann box measurement was replicated sequentially with no change. The Fibonacci 0.5 level of all gann boxes is marked with a vertical line. This marked fib 0.5 level detects all radical changes in direction from the time of the first chart to the present. If you look at the candles covered by the boxes I placed in the middle of the Gann 0.5 vertical and 0.5 horizontal positions, these candles have always changed the direction of the trend.
What a coincidence, these breakdowns occurred on the 1st day of each month, according to the chart we watch monthly. And it's been 3 years in a row this January.
The 12K price levels I mentioned in the first part of the analysis again coincide with the 0.5 level of this gann box. I hope this doesn't happen. I don't think it will. As I said before, this is a hypothetical approach. So I don't want you to blame me. Because I say it's conjecture. In this chart drawn on a monthly period, we see that the next major trend reversal coincides with January.
I guess only then will I be able to confirm the accuracy of this hypothetical technical drawing, although it is based on technical measurements.
If we talk about indicators a little bit; We can see that the sellers are still strong in Aroon .
rsi has fallen below 20 in the daily period . From here we can expect an upward test turn.
The cmf indicator is also -0.23 in the daily period as of now . Cmf indicator is one of the indicators I care about. It does not cause any loss in purchases made under cmf -0.20. If it is -0. 40 and below, you will definitely profit. So a test return can occur according to cmf . Accordingly, I think it will turn up by a spike at 18K levels.
Finally, Adx shows that the downtrend is still continuing.
Summary: 18-21K seem to be suitable regions for reception. But the graph data showing 12K requires us to be careful. Accordingly, after purchasing an amount between 18-21K, a stop can be written under 18K. Buying incrementally and selling incrementally is always a more profitable method in my opinion. Of course, the most accurate strategy for you should be your experience and observation. I recommend that you do not trade with what I or others say.
Do not let my or others' analyzes and statements mislead you. What I'm saying is just to add a new perspective to the point of view.
ps note: This not investment advice.
, , , ,, , ,
You can see from the graphics which published before.
These analyzes have now reached the expected support levels. Most likely, an upward movement should start now. But there is a fact that when we check whale boards with api queries, whales expect to collect goods at lower price levels. Although the accumulated orders here suggest that the price may decrease to 12K, let's try to predict the course technically with the language of graphics and indicators.
When we look at the big picture first, we can think that the D leg of the harmonic pattern may sag below fib 1.27. This gives us the 18K price levels.
When we look for a formation within fractals by narrowing the frame a little more, reducing the time period, chart with bar candles simplifying and clarifying the , this time we come across the classic head and shoulders formation. In this formation, the head and neck depth shows us the 18K price levels given by the fibonacci 1.27 measurement just before.
In the graph above, when we look at the old accumulation zone marked with a pen in the region that appears to be the target of has and Harmonic pattern formation, we also see that the accumulation zone is compatible with technical measurements. In addition, we see that there is an old strong accumulation area in the 12K levels pointed out by the whale book orders we mentioned at first.
In short, I think that the price will fall to 18k, but the fact that 12K is a strong area and that the accumulated whale orders in the stock exchanges are accumulated at 12K levels suggest that the price can hang here. But my personal opinion is that it will not fall to 12K. I think that the price will be in the consolidation for a while in the range of 23-18 k and will start a upward movement.
When we continue our measurement with other technical tools, when we project the peak with the schiff pitchfork and fib from where the trend first started, it confirms that the current price level is the resistance area, and if the decline continues, the resistance area it will encounter in the future will meet the price as a support, as we mentioned again.
But as I said, it is not my personal opinion that it falls here, I only evaluate the technical measurement. I think the price will return from the current levels by throwing a needle to 18K at most.
But just in case, I tried to explain the measurements without skipping the measurements in order to develop a perspective against all risks in your strategies.
If we draw a fib trend channel guided by the Gann box, first of all, when we look at the weekly period;
We can predict that the intersection of gann 0 and fib channel 0.5 will act as support in the 12-13K range.
Even though I don't think it will drop to these levels, I still share the measurements. I have also shown the compatibility of this area with the previous accumulation zones in the graphic below.
There is a strong possibility that the gann and fann intersections will also work as resistors in the future. I have marked these areas with a green pencil in the chart below.
If the decline continues, the green areas are marked as resistance, and the red areas as support and accumulation areas in the graph below, where the common fractal intersections are given.
The chart below is just my assumption, apart from measurement and analysis. I am not saying that it will be like this, but if we think that a new formation or pattern will emerge when the current harmonic pattern is completed, we can think that a new harmonic pattern may be formed by thinking that the green regions will work as resistance and the red regions as accumulation and support areas, as we claim in the current measurements. In this case, a graph will appear as follows.
The above graph is my personal view and a hypothetical drawing. I suggest you don't take it seriously. If you follow a path like a graph above, we can assume that prices can rise up to 32k again and will experience a serious decline from there again.
Now I will share a different graphic with you. You may think that the graphic I shared above is a coincidence. If we explain the graph;
First of all, what is this?. It is a form of measurement that is not included in the information in the books drawn according to the Fibonacci time period using Gann measurements.
I want you to look at the dates at the bottom of the graph. January 1, 2020 etc.
A gann box was created by taking the fibonacci time frame of the trendin, which was formed when Bitcoin was reflected on the first tradingview charts. This gann box measurement was replicated sequentially with no change. The Fibonacci 0.5 level of all gann boxes is marked with a vertical line. This marked fib 0.5 level detects all radical changes in direction from the time of the first chart to the present. If you look at the candles covered by the boxes I placed in the middle of the Gann 0.5 vertical and 0.5 horizontal positions, these candles have always changed the direction of the trend.
What a coincidence, these breakdowns occurred on the 1st day of each month, according to the chart we watch monthly. And it's been 3 years in a row this January.
The 12K price levels I mentioned in the first part of the analysis again coincide with the 0.5 level of this gann box. I hope this doesn't happen. I don't think it will. As I said before, this is a hypothetical approach. So I don't want you to blame me. Because I say it's conjecture. In this chart drawn on a monthly period, we see that the next major trend reversal coincides with January.
I guess only then will I be able to confirm the accuracy of this hypothetical technical drawing, although it is based on technical measurements.
If we talk about indicators a little bit; We can see that the sellers are still strong in Aroon .
rsi has fallen below 20 in the daily period . From here we can expect an upward test turn.
The cmf indicator is also -0.23 in the daily period as of now . Cmf indicator is one of the indicators I care about. It does not cause any loss in purchases made under cmf -0.20. If it is -0. 40 and below, you will definitely profit. So a test return can occur according to cmf . Accordingly, I think it will turn up by a spike at 18K levels.
Finally, Adx shows that the downtrend is still continuing.
Summary: 18-21K seem to be suitable regions for reception. But the graph data showing 12K requires us to be careful. Accordingly, after purchasing an amount between 18-21K, a stop can be written under 18K. Buying incrementally and selling incrementally is always a more profitable method in my opinion. Of course, the most accurate strategy for you should be your experience and observation. I recommend that you do not trade with what I or others say.
Do not let my or others' analyzes and statements mislead you. What I'm saying is just to add a new perspective to the point of view.
ps note: This not investment advice.
, , , ,, , ,
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As we expected, the price reached its target between 18-17K. Now I think a harmonic pattern will emerge. For this, I expect leg C to decline at a price between fib 0.886 or 0.786. When it reaches the D leg, the position can be closed. From here, it will be understood whether the price will fall to 12K by measuring the test level, or whether the trend is in a test movement.
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