BITCOIN | Simple Price Zones in The Consolidation Area!
Hi, long time no see.
Thought that I would point out some important areas after the price of Bitcoin made a tiny all-time high. Consolidation happening after that but my option - just put "stop orders" to the new all-time high and you would get a pretty solid trade if it breaks again. Actually, the key number would be the magical $20.000. I think if it breaks then the media, with titles, just drives the price into the huge prices.
Before that, the short-term traders can catch also some moves if the price gets close at least 18.900 (on 4h tf) and you can take a retest of 18.600-700 (retest are supported with 50 and 100 EMA's and with the strong horizontal area), the target would be the current all-time high, around 20k
The third simple theory will bring the price as low as ~15.000. It can happen if the current tiny short-term consistency finds its end and get a 4h candle close below the red line which marks 200EMA. There are also some daily lows, so two in one, wait for a retest and you may get a solid opportunity.
Regards,
Vaido
Thought that I would point out some important areas after the price of Bitcoin made a tiny all-time high. Consolidation happening after that but my option - just put "stop orders" to the new all-time high and you would get a pretty solid trade if it breaks again. Actually, the key number would be the magical $20.000. I think if it breaks then the media, with titles, just drives the price into the huge prices.
Before that, the short-term traders can catch also some moves if the price gets close at least 18.900 (on 4h tf) and you can take a retest of 18.600-700 (retest are supported with 50 and 100 EMA's and with the strong horizontal area), the target would be the current all-time high, around 20k
The third simple theory will bring the price as low as ~15.000. It can happen if the current tiny short-term consistency finds its end and get a 4h candle close below the red line which marks 200EMA. There are also some daily lows, so two in one, wait for a retest and you may get a solid opportunity.
Regards,
Vaido
Comment:
EDIT: “ Be extra cautious, or even close the trade with a small loss, after the 4h candle closes back below the middle line, below 50 & 100 EMA
Comment:
Short-term holders, I think it is time to take partial profits. The price is not on the major target area but still, we might see some throwback, which can be quite nasty considering that ugly weekly candle but still, atm everything looks good.
Be extra cautious, or even close the trade with a small loss, after the 4h candle closes back below the middle line!