to bullish 109000 soon
Bitcoin / Tether forum
to bullish 109000 soon
If Bitcoin stays above the 200 SMA on a certain timeframe for a long period — it usually means a drop is coming. If it’s below — it likely means a rise is coming. All depending on the market phase and timing, of course. These are the basic principles for understanding what’s about to happen and when. Other lines (14, 21, 35, 50, 100) serve as support/resistance depending on the current conditions.
Channels? Sure, they happen — especially on higher timeframes. But some people who see themselves as gurus get so obsessed with drawing and finding channels in *every* market condition that they end up with shitty RECTANGLES that can’t even survive a single day before leaking. Then they jump between timeframes trying to draw a new so-called channel to retroactively explain everything.
Turn on multiple SMA lines on your chart, switch to low timeframes, watch the movement for just a few hours — and you’ll see the patterns and logic behind it. All of this carries over to the higher timeframes too. Peace.

🚨UPDATE: As posted earlier today, BTC has broken below the 107,500 support and accurately tested the 106,700 support zone, in line with the prior analysis.
If the 107,200–106,700 support zone holds strong, we may see a bounce toward the 108,500 and 109,700 resistance levels.
However, if 106,700 breaks and BTC closes below it, the next level to watch is 106,000. A breakdown below that could lead to a deeper pullback toward the 105,100–104,000 support area.

I’ve marked two red arrows for you to see — those are marubozu candles, which usually mean heavy selling. That’s what I was talking about earlier with traders going on vacation and dumping their big portfolios. BTC is back in the channel, and I still believe (though I could be wrong) that we’re heading toward 109K.
tradingview.com/x/SiI6oecW/
