Bitcoin / TetherUSUpdated BTC Analysis January 15, 2021
Hi Everyone this is Kris and this is my analysis for BTC . Its not perfect but Im open for criticism
UPDATE FROM:
BULLISH SIDE:
The attempt to break out on 42k was happilly rejected as the momentum is too strong and we are are overbought condition during the breakout attempt. so It was a weak attempt
What I am looking now is
1. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
2. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
if this will succeed in breaking the 42k target im looking for a 50-56k btc price target
BEARISH SIDE:
For now i Dont have a bearish side until I see the support lines broken
UPDATE FROM:
BULLISH SIDE:
The attempt to break out on 42k was happilly rejected as the momentum is too strong and we are are overbought condition during the breakout attempt. so It was a weak attempt
What I am looking now is
1. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
2. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
if this will succeed in breaking the 42k target im looking for a 50-56k btc price target
BEARISH SIDE:
For now i Dont have a bearish side until I see the support lines broken
Note
1. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again2. for it to retrace along side the 0.618 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
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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.