The most detailed roadmap for #Bitcoin
This post will be updated for a week
#Bitcoin is at a critical point
SELL scenario:
It is actually trying to break the 65357 support on the daily time-frame
But this has not happened yet!!
To break this support, it needs to close below the price of 64060.00
If this happens, #Bitcoin will continue to fall
The first target he can see is 58735.55.
.........................
BUY scenario:
On the other hand, if today's daily candle is bullish and powerful, there is a possibility of growth from this area.
If this happens, the first target is the ceiling of the descending channel
And the next target is 74161.73
#Bitcoin is at a critical point
SELL scenario:
It is actually trying to break the 65357 support on the daily time-frame
But this has not happened yet!!
To break this support, it needs to close below the price of 64060.00
If this happens, #Bitcoin will continue to fall
The first target he can see is 58735.55.
.........................
BUY scenario:
On the other hand, if today's daily candle is bullish and powerful, there is a possibility of growth from this area.
If this happens, the first target is the ceiling of the descending channel
And the next target is 74161.73
Note
Growth scenario (4-hour timeframe):The last downward movement of #Bitcoin is inside a BEARISH channel
In every attempt to create a new LOW, it is separated from the bottom of the channel.
Furthermore, we see confirmation of the divergence on the 4-hour time-frame
All these can be a sign of growth.
But the sure condition for growth is the breaking of the BEARISH channel of the 4-hour time frame
Note
Growth scenario invalidation level (time frame: 5 minutes)The BULLISH trend-line of the last move, which led to the confirmation of the divergence in the 4-hour time-frame, is the invalidation level of the growth scenario.
That is, if this trend-line breaks in the 5-minute time frame, there is no news of growth and we will have a fall based on the scenario of a higher time-frame fall.
So you should pay special attention to this trend line!!
As long as it is above this trend line, the growth conditions are ready!
Apart from the trend line, we also have the support of the pivot time-frame of 15 minutes (daily support) (64197.73), which can be a barrier against falling.
Note
In the time-frame of 15 minutes, #Bitcoin has formed a "triangle structure".These triangles that have ascending LOWS and equal HIGHS are called inverted triangles.
Triangles are considered to be neutral structures by nature, but if it is broken upward, it can be confirmation of growth
Note
Battle between the boxes:Sometimes, before the big move, the market is placed in small and big boxes, each of which may be related to a time frame.
Here we see 4 boxes.
Growth scenario: Considering that we are above the pivot level of the 15-minute time frame (daily support): the breaking of the upward red box can start a new upward movement.
Falling scenario: for falling, it is necessary to break the pivot (64251.11) in addition to breaking the red box.
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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.
Related publications
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.