On the daily chart bitcoin is currently at the upper Transient Zone 61-64k marked in red and the newest TZ in yellow and blue under the current price action.
It created this zone with the recent bullish push to retest highs, and probabilities are that it will revisit this zone before breaking out much higher if it were to.
Transient Zones are rare occasions on most time frames. A Transient Zone is an area that price action breifly stayed in (single bar moves), and can be found at tops, bottoms, and sometimes flag moves that creates the pole structure then consolidation above/below the TZ.
Price action tends to revisit zones where price has recently traveled. So you can create probability vectors based on how many bars it takes on average to break a would be TZ, IE most zones tend to get hit within about ~10 bars but this will vary in markets and TF's
I checked this out the daily, and the weekly. The weekly works best in this case as the last peak that helped create this zone was well over 30 days out
Todays bar on the daily hasn't established a TZ quite yet, but as it forms, price is likely to revisit the 56k area within the next week. Price needs to close above 62k/the red zone, ideally on the weekly if we're to get to ATH's again.
Weekly:
Price action is likely to revisit the 52k area in the next 5-7 weeks,
-This is not financial advice.
It created this zone with the recent bullish push to retest highs, and probabilities are that it will revisit this zone before breaking out much higher if it were to.
Transient Zones are rare occasions on most time frames. A Transient Zone is an area that price action breifly stayed in (single bar moves), and can be found at tops, bottoms, and sometimes flag moves that creates the pole structure then consolidation above/below the TZ.
Price action tends to revisit zones where price has recently traveled. So you can create probability vectors based on how many bars it takes on average to break a would be TZ, IE most zones tend to get hit within about ~10 bars but this will vary in markets and TF's
I checked this out the daily, and the weekly. The weekly works best in this case as the last peak that helped create this zone was well over 30 days out
Todays bar on the daily hasn't established a TZ quite yet, but as it forms, price is likely to revisit the 56k area within the next week. Price needs to close above 62k/the red zone, ideally on the weekly if we're to get to ATH's again.
Weekly:
Price action is likely to revisit the 52k area in the next 5-7 weeks,
-This is not financial advice.
Trade closed: target reached:
bam!
