BTCUSDT close to daily support, long term long is favorable hereThe price has come close to the daily support zone which we talked for HTF analysis on the first drop on 5th June. The price is still a bit short of touching the daily support. So it might dip one more time to hit it formally. But lets see.
Btcusdttrade
BTCUSDT at daily resistance, likely to move down to 26060The price has hit the daily resistance DR1. It is likely that the price will be pushed back from there. The next hourly support is around 26060 and I think price will head there. Therefore, the target of this short trade should be 26060. The price has already been pushed significantly while penning this idea.
BTCUSDT likely to head up to 26396The price has been consolidating in this range for a while. It is trading between the daily resistance and daily support zones. Currently the price seems to be heading towards daily resistance 1DR1 which is sitting around the zone 26330-26469. A long is favorable here with the target of 26396.
BTCUSDT likely to visit daily support around 24296-24696That was a significant drop. It has broken all the low time frame support levels and now likely to head for the next daily support. It seems the path is very clear for the BTCUSDT to move to daily support zone around 24296-24696. The price hitting that support would give a very good long opportunity as there will be enough liquidity to move the price significantly upward.
BTCUSDT at daily support and likely to head to 27396The price was held back by 4h resistance around 27400 zone. And now it has fallen down to the daily support around 2700 zone. I expect this support to hold for now and provide a bounce to the 4h resistance zone around 27400 again. I believe a long is favorable here with a target to 27396.
BTCUSDT bounced off 4h support and may head to 4h resistanceThe price has hit the 4h support as marked on the chart and the support doing its job. The price has bounced from that support and currently trading at support resistance which also acted as a brief support during fall. The price may head for 4h resistance zone again.
BTCUSDT likely to head to next 4h resistance at 27400Yesterday the price hit the 4h resistance zone upon the bounce and was held back by this resistance. Since then it is consolidating under that resistance and likely to break it soon. The next resistance lies at 27400 zone which would be the target of the long trade which seems to be favorable right now.
BTCUSDT seems to be getting ready for major up moveThis dip provided a nice long opportunity. It is difficult to post on time when the price moves so fast. But 26906 was a good level to long. And the price has already moved more than 1.5%. Did not mention that level in earlier posts as did not expect this to go there so quick. But anyways, I think this drop opens the path for more upside. There will some retrace now and might sweep that low, but I believe the next bigger move is to the upside. But lets monitor the price action a bit more to understand a bit more about the probability of the future path the price will take.
BTCUSDT at 4h support, likely to head to daily resistance againSo the price did hit the daily resistance as mentioned in the last post, however, could not breach it. The price has now fell down to 4HS2 level which is another long opportunity. Lets try this long from that support to the daily resistance.
BTCUSDT likley to head above daily resistance around 29360The price was pushed back from daily resistance and found support on 4h support area around 29050. I believe the price is going to push higher here. Not sure if it can break the resistance conclusively but there will be a fair attempt for the same.
BTCUSDT trading under daily and weekly resistanceThe price again hit the daily resistance overnight but got pushed down again and it is trading again below that resistance. But there is more case for the price to push up through the resistance rather than breaking down. I will observe it for while and then post a trade setup.