24-48 hours view of BTC; Consolidation continue
Updated
Sharing Few thoughts
After a recent bounce of the Bollinger band with strong engulfing Green bar, we are getting more optimistic. Refer to my previous post of ETH which I closed manually after 4 hours BTC chart change of direction.
Resistance trend lines in place are
1. Redline in my view is possible current resistance, the price shied away from it today rather than retesting it
2. Dotted Green line was previous support that is broken and now forming possible resistance
Support in place
1. Bollinger bands at 2229 and 2187
2. Fibonacci support at roughly the same level of 2180
3. Next support could be around 1934 50% Fibonacci
So where do we go from here?
Nose of the 20 MA is Down
Nose of our RSI is Down
MACD is bearish
Where to buy?
2180 to 2220 has our Bollinger band and Fibonacci support
next is
1934
look for signs of reversal as in short
Consolidation continues unless the Market surprise us
Please do your own research
Good luck everyone
After a recent bounce of the Bollinger band with strong engulfing Green bar, we are getting more optimistic. Refer to my previous post of ETH which I closed manually after 4 hours BTC chart change of direction.
Resistance trend lines in place are
1. Redline in my view is possible current resistance, the price shied away from it today rather than retesting it
2. Dotted Green line was previous support that is broken and now forming possible resistance
Support in place
1. Bollinger bands at 2229 and 2187
2. Fibonacci support at roughly the same level of 2180
3. Next support could be around 1934 50% Fibonacci
So where do we go from here?
Nose of the 20 MA is Down
Nose of our RSI is Down
MACD is bearish
Where to buy?
2180 to 2220 has our Bollinger band and Fibonacci support
next is
1934
look for signs of reversal as in short
Consolidation continues unless the Market surprise us
Please do your own research
Good luck everyone
Note
Conservative Approach for Buying would be,A breakout of the red trend line with our indicators confirming the Bullish trend continuation.
Note
Our Price Range today should be 2160 and 2460 on USDT charts
More likely to stay between
2200 and 2400
Selling activity should start around 2350 mark
Buying activity should be around 2220 Mark
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