Bitcoin / TetherShort
BTC: Another retest?
In my previous post, the indicator showed a confluence between the 70% and Upper 50% level. Their difference is too narrow and the price behaved quite differently from what is expected. The price was trying to get through that level, but the confluence was persistent in blocking the price, which probably caused the price to retest lower key levels. This means that there are no enough buyers to give strenght to the bulls.
In this case, the indicator exhibited similar scenario. The confluence between the 70% and Upper 50% level still persist. The price could probably retest the 41700 and 40900 level. This could be also an opportunity to place a BUY LIMIT order once the price reach these levels.
The possibility of retest is also supported by the bullish (green line) and bearish (orange line). At the moment the price breaks the bearish line indicating a pssoible bearish trend.
Price must break the 43400 level to form a new hiogher high.
/please DYOR/trade at your own risk
In this case, the indicator exhibited similar scenario. The confluence between the 70% and Upper 50% level still persist. The price could probably retest the 41700 and 40900 level. This could be also an opportunity to place a BUY LIMIT order once the price reach these levels.
The possibility of retest is also supported by the bullish (green line) and bearish (orange line). At the moment the price breaks the bearish line indicating a pssoible bearish trend.
Price must break the 43400 level to form a new hiogher high.
/please DYOR/trade at your own risk
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