CYCLE 4 | UPDATE - BTC Possible Next Move into Sell Zone
A quick chart to outline BTCs possible next move up if bulls take control again as we enter in March out of the current consolidation zone.
What we would be looking for in this scenario is a retest and hold of the below 20W SMA | 21W EMA, sweeping our prior low of the current range. See daily charts below.
Daily Chart(S) Showing 1.618 Over Extension
Daily Chart(S) Showing 1.618 Over Extension & Daily Order Block
Back on the weekly, this will allow BTC to rest back down to the lower RSI line, hopefully put in some divergent behavior and push BTC up to our long term tracking Sell Zone area and the 1.618 Fix Extension region.
What we would be looking for in this scenario is a retest and hold of the below 20W SMA | 21W EMA, sweeping our prior low of the current range. See daily charts below.
Daily Chart(S) Showing 1.618 Over Extension
Daily Chart(S) Showing 1.618 Over Extension & Daily Order Block
Back on the weekly, this will allow BTC to rest back down to the lower RSI line, hopefully put in some divergent behavior and push BTC up to our long term tracking Sell Zone area and the 1.618 Fix Extension region.
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.
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.