BTCUSDT - 1st update was on 05.07.2024
During that period the prices were testing the S zone.
Price has moved above the recent weekly close of 65602 on 23.09.2024.
If the present weekly candle closes above that close we will see a new Higher
Close and a high for the last 7 weeks.
Volume spikes haven't happened yet. Hence a close watch on that is very important.
If a higher close weekly candle is seen the MACD may close above the signal line.
Which will add confidence to the Bulls. RSI above 50 points is positive as well.
Prices breaking above the R1 zone range between 68307 and 73837, a trend extension
will be seen.
Trend extension to test all the way upto the R5 zone could take place if volumes increase.
During that period the prices were testing the S zone.
Price has moved above the recent weekly close of 65602 on 23.09.2024.
If the present weekly candle closes above that close we will see a new Higher
Close and a high for the last 7 weeks.
Volume spikes haven't happened yet. Hence a close watch on that is very important.
If a higher close weekly candle is seen the MACD may close above the signal line.
Which will add confidence to the Bulls. RSI above 50 points is positive as well.
Prices breaking above the R1 zone range between 68307 and 73837, a trend extension
will be seen.
Trend extension to test all the way upto the R5 zone could take place if volumes increase.
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.