Hoosier812

BTC: Bullish Consolidation before next Impulse

Long
BYBIT:BTCUSD   None
Support - 10900
Resistance - 11400
Demand Zone: 10500-11000
Supply Zone: 11800-12200

Bull DIV: 1H and 4H (HL printed with RSI making Lower Low)
TL Support - ASCENDING CHANNEL forming with $1500 wick touching TL support

Consolidation: 10900 - 11400
Complex Correction forming: WXY or WXYXZ (many 3 wave moves)

LONG idea (Not setting yet):
Entry: 10700 - 10900 (scale)
SL: 10500
T1: 11400 (range high)
T2: 12200 (supply zone)
T3: 14k (previous post - 1.618 FIB of W1 impulse)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.