BTC near-term Support Resistance: Pit-Stops on the way to 32.7k?
Near term update to my bigger picture posted here (click).
We have been falling thru several "Genesis" fibs.
The next major level is a "Golden" fib at 32.7k.
There should be some bounces on the way there.
Green zones need to at least slow the descent.
Red zones above if broken could avert doom.
Likely we range between them over weekend.
34,693-879 should be a pretty strong support.
33,682-716 would be the next support option.
32,741-825 is the KEY support that MUST hold.
36,517-607 is the immediate resistance above.
37,489-588 is a MAJOR one with a Genesis fib.
38,744-972 would make a good bull-trap top.
Those numbers are from CoinBase.
Other exchanges will of course vary.
But that level of precision is feasible.
I will try to post updates below when possible.
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We have been falling thru several "Genesis" fibs.
The next major level is a "Golden" fib at 32.7k.
There should be some bounces on the way there.
Green zones need to at least slow the descent.
Red zones above if broken could avert doom.
Likely we range between them over weekend.
34,693-879 should be a pretty strong support.
33,682-716 would be the next support option.
32,741-825 is the KEY support that MUST hold.
36,517-607 is the immediate resistance above.
37,489-588 is a MAJOR one with a Genesis fib.
38,744-972 would make a good bull-trap top.
Those numbers are from CoinBase.
Other exchanges will of course vary.
But that level of precision is feasible.
I will try to post updates below when possible.
.
Comment:
Bulls trying hard.
Primary support reclaimed and trying to hold with a clean bounce
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Zoom IN (5 min) for a closer tool at the support zone
still getting Pings on the local fib.
That fib is the wave down from 41k.
So still in downward pressure apparently.
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Primary support reclaimed and trying to hold with a clean bounce
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Zoom IN (5 min) for a closer tool at the support zone
That fib is the wave down from 41k.
So still in downward pressure apparently.
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Comment:
Nice POP
Pushed from support into first resistance
happened at Asia market open after weekend.
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Zoom IN (1 min) to see what now
still in good sync with our blue/gold fib,
now under the higher tf red fib at 32,327
Lets see how far we pull back from here.
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Pushed from support into first resistance
.
Zoom IN (1 min) to see what now
now under the higher tf red fib at 32,327
Lets see how far we pull back from here.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Fell thru the initial support around 34.7k
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Zoom IN (5 min)
Last rejection and current floor sister fibs of same sequence.
So now the "strong support" above may well become strong resistance.
Lets see if bulls can get back above 34.8k and hold it until Monday.
That would be the only hope of a good bounce to start next week.
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