BTC (Y20.P4.E10).Next levels to watch
Updated
Hi All,
Ref (A.chart)
Keeping this short and to the point.
> The next 2 support levels makes sense to me based on previous support and resistance levels;
> Critical level on the chart, has an important bearing for the coming week for this BTC breakout; ($10950 to $11050)
As per chart, it must hold otherwise it points to a possibly false breakout. This level needs to hold otherwise it opens the door for further slippage;
> Its holding the 21 Weekly MA;
> The breakout from this trendline of this symmetric triangle is 1 level of success but we need to see the next few levels, as per resistances on the chart.
> We have a lot of resistances above to get through ($11900)
Note SP500 and Gold increases the probability that BTC will also have upward pressure to continue.
Need to keep an eye on GOLD this week.
With US Dollar, I still see it going lower with downward pressure evident with the MACD
Please give me a tick or like for this post
Regards,
S.SAri
DAILY Chart (z.chart) providing key levels and trendlines (structure of the price action).
Ref (A.chart)
Keeping this short and to the point.
> The next 2 support levels makes sense to me based on previous support and resistance levels;
> Critical level on the chart, has an important bearing for the coming week for this BTC breakout; ($10950 to $11050)
As per chart, it must hold otherwise it points to a possibly false breakout. This level needs to hold otherwise it opens the door for further slippage;
> Its holding the 21 Weekly MA;
> The breakout from this trendline of this symmetric triangle is 1 level of success but we need to see the next few levels, as per resistances on the chart.
> We have a lot of resistances above to get through ($11900)
Note SP500 and Gold increases the probability that BTC will also have upward pressure to continue.
Need to keep an eye on GOLD this week.
With US Dollar, I still see it going lower with downward pressure evident with the MACD
Please give me a tick or like for this post
Regards,
S.SAri
DAILY Chart (z.chart) providing key levels and trendlines (structure of the price action).
Note
Its good to look at charts at different time perspective. I like the 3 or 4 day chart as well as its between the daily and weekly chart.I have this "only from a bullish perspective" which is still conditional as to the points on this post.
with this chart, the MACD is yet to cross over.
Note
for the short term, 11600 to 11700, before it pulls back is also on the cards.Note
Trade active
Came across a nested harmonics in this price action...very bullishNote
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This community has signals now but with no risk management comms.
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