BTC IS DECIDING! OR TRYING TO DO SOMETHING
After rejected from yesterdays pivot point, it was on the road to 42K this what we see on the 1H timeframe chart, may be a consoladition. However, if we look at shorter timeframe like 5minute timeframe we see yesterday price was rejected from S1 and came to retest todays pivot. Like i draw on the 1H chart we have an upward trendline. if it breaks we expect to fall another trendline. We expect bounce up and come back to retest pivot in the 5minute chart.
for now, in all charts we see a litte consolidation. our support is 48200 is being very strong but our Major support is 47500! if price goes down from 48200 expect 47500 and testing pivot line on the 5 minute chart. After 47500 highly chance we'll see 42K.
Price is going up and down between 48200 and 48600 this range is called consolidation range. upward momentum and break will take us to R1(Resistance1) but downward momentum will take us to S1.
CONCLUSION:
PIVOT 50800
R1:60600
S1:42000
Minor Resistance:48600-700 49500!
Minor Support:48200 47500!
Falling from 47500 is critical you can open short its your decision. upward move from 49500 probably will lead to 54K-52K!
its all from my experience!!! do your own research and analysis. these are just an idea. do not trade because of my words!
for now, in all charts we see a litte consolidation. our support is 48200 is being very strong but our Major support is 47500! if price goes down from 48200 expect 47500 and testing pivot line on the 5 minute chart. After 47500 highly chance we'll see 42K.
Price is going up and down between 48200 and 48600 this range is called consolidation range. upward momentum and break will take us to R1(Resistance1) but downward momentum will take us to S1.
CONCLUSION:
PIVOT 50800
R1:60600
S1:42000
Minor Resistance:48600-700 49500!
Minor Support:48200 47500!
Falling from 47500 is critical you can open short its your decision. upward move from 49500 probably will lead to 54K-52K!
its all from my experience!!! do your own research and analysis. these are just an idea. do not trade because of my words!
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