BTC Sept 24 | 6800 top? | Weekly price flipping | 6120 tar.
Topics discussed:
Price and OBV 15m sideways movement. Sideways ranging here. No trade zone.
4h sideways block in price (horizontal 6575 s/r). If this breaks, look for $6400s next
\u2028If price drops further, look for $6120 to be touched again, buyers clearly sitting there but is that area weakening?
4h td top on 13 and ic cloud\u2028Big demand pool under $5500 (new buyers, new demand), terminal shakeout\u2028 could be incoming
BLX chart, price flipping on the weekly. Weekly time frame is telling you for the last month there is no buy signal
Weekly chart 200MA tells you that it has been significant support back in 2015 and price caught floor there and moved on up. Currently that lies around $3000 levels
$5500 would be my next target as that is where the last weekly support was in 2017 before price took off to $20k + 100MA weekly is right at that area currently
If you have any questions, shoot them my way. Always happy to help!
Price and OBV 15m sideways movement. Sideways ranging here. No trade zone.
4h sideways block in price (horizontal 6575 s/r). If this breaks, look for $6400s next
\u2028If price drops further, look for $6120 to be touched again, buyers clearly sitting there but is that area weakening?
4h td top on 13 and ic cloud\u2028Big demand pool under $5500 (new buyers, new demand), terminal shakeout\u2028 could be incoming
BLX chart, price flipping on the weekly. Weekly time frame is telling you for the last month there is no buy signal
Weekly chart 200MA tells you that it has been significant support back in 2015 and price caught floor there and moved on up. Currently that lies around $3000 levels
$5500 would be my next target as that is where the last weekly support was in 2017 before price took off to $20k + 100MA weekly is right at that area currently
If you have any questions, shoot them my way. Always happy to help!
Comment:
5m/15m cloud now posing as resistance
Comment:
This is the weekly chart I spoke about in my analysis: 100MA (blue), 200MA (purple). The 200MA was the one that supported us back in 2015. We also met the the trend line as we met the 200MA around the same area. If we were to follow that guideline at this current trajectory, we should be meeting both the 200MA + the trend line some time in January/February 2019 around $4000-5000.
Comment:
That daily candle literally hovering at $6575 support!
Comment:
4h shows the 10 candle printing. If we break under $6575, look for the smaller time frames to be using that as resistance.
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