BTC/USD Update. Bitcoin Zones Strategy. for BITMEX:XBT by BillCharison

BTC/USD Update. Bitcoin Zones Strategy.

We see a falling channel (small yellow chanel).

The red zone also remains the sale zone, the lower border of the yellow channel is strong support, if we break through it and fix below it, for sure we will dump.
In the yellow zone, you can open long, as it is above the mirror level.
In the green zone, it will be too late to open long, since inside this zone there will be one green candle, most likely.
The purple zone also remains a flat zone.

All it depends on which direction the chart leaves the purple zone.

Targets for longs - 3800$ - 3900$.
Targets for shorts - 3500$ - 3400$.

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Note

If we fix above 3570$ and trade higher, we'll go to 3635$ - 3700$ - 3780$ - 3850$
If we fix below 3570$ and trade lower, we'll go to 3530$ - 3500$ - 3450$, and then after correction, more likely, the price will continue to fall into the area of 3200$.

BillCharison

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Disclaimer

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BillCharison

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