rfelchuk

BTCUSD 8K gotcha. Where heading next?

BYBIT:BTCUSD   Bitcoin / U.S. Dollar
Hello guyz and gerlz!

I am being a bad blogger for not posting here regularly.

I have long been working under the 8K scenario and it's been successful as you may now confirm.

So far the 6400-7700 range is looking like a one big consolidation which lasted 45 days.

If H&S works out this supposedly will send price to 9Keks where there is also a thick OB.

For now I would not be so confident about bullish power, not as long as 7700 level is strongly defended. The reason being is that price has just tapped the first significant bearish OB on its way up.

Hence the next battlefield for bullass be 8000-8240. If buyers manage to reclaim this area I think we are quite safe on the way up to 9Keks. Until then, keep your butt tight.

Intraday levels:
Support: 7710-7810; 7514-7605
Resistance: 7920-8240

Mid-term levels:
Support: 7600
Resistance: 8000-8240

Trade with safety
Trade active: while crypto twitter is shitting thy pants all over the place yelling about how ugly the weekly bar is before it has even completed... I have been patient and sticking to my plan!

The price revisited neckline and found support at 7700-7900 zone (I marked 7600 previously).

Daily close above 8050 will provide a strong bullish engulfing that will reinforce my #long #bullish scenario
Trade closed: target reached: Gotcha Bitcoen

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