BITCOIN - Price Ranges With Descriptions Until Friday!
Hey!
Something different from me, hopefully, You keep the pace and You will understand what I would like to mean.
Here are the colored price areas with some confirmations inside boxes until Friday.
Let's start from bearish confirmation areas: Red, mid-red and light-red
The red area:
If the price reaches into this area then it would be very ugly drop because it should happen fast and the drop confirmations are:
1. Break below the blue trendline (pulled 19. Nov- 24. Nov)
2. Break below the round number $3,500
3. Break below the current counter trendline (black trendline)
+4. If the drop is sharp then break below the channel trendline
The first target would be $3,000
The mid-red area/consolidation area:
You have to wait for the breakout either direction to get confirmation
Bullish confirmation - break above the channel
Bearish confirmation - break below the round number and the break below the round number will guide us to...
The mid-red area/ smoother falling area:
1. Break below the round number $3,500
2. Break below the current counter trendline (black trendline)
3. New LL's (lower lows)
This channel will guide us again into the $3,000 support level but this road is smoother and painful because of the bull traps (probably)
Now the bullish confirmation areas. Firstly we can't even search something lower than the channel upper trendline break. This channel trendline has acted as a super strong resistance with multiple attempts to break above the channel but all those are failed attempts:
Light green box/first bullish confirmation area:
1. The price is above the lower blue trendline
2. Break above the channel, FINALLY
3. Another confirmation comes after the candle close above the dark-gray area
The dark gray area and the channel upper trendline makes this area super strong around $3,850 so, this means a lot of buying power to break those resistances.
The first target would be $4,000-$4,100
Green box, a possible second bullish leg confirmation area:
1. Break above both blue trendlines (since the drop from $6,5k)
2. Break above the $4,000
3. New HH (higher high) area
+4. Stronger confirmation comes after the candle close above the gray area
After the candle close above the gray area we could find that momentum which will guide us above the $4,500
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really appreciate it!
Have a nice day!
All the best!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Something different from me, hopefully, You keep the pace and You will understand what I would like to mean.
Here are the colored price areas with some confirmations inside boxes until Friday.
Let's start from bearish confirmation areas: Red, mid-red and light-red
The red area:
If the price reaches into this area then it would be very ugly drop because it should happen fast and the drop confirmations are:
1. Break below the blue trendline (pulled 19. Nov- 24. Nov)
2. Break below the round number $3,500
3. Break below the current counter trendline (black trendline)
+4. If the drop is sharp then break below the channel trendline
The first target would be $3,000
The mid-red area/consolidation area:
You have to wait for the breakout either direction to get confirmation
Bullish confirmation - break above the channel
Bearish confirmation - break below the round number and the break below the round number will guide us to...
The mid-red area/ smoother falling area:
1. Break below the round number $3,500
2. Break below the current counter trendline (black trendline)
3. New LL's (lower lows)
This channel will guide us again into the $3,000 support level but this road is smoother and painful because of the bull traps (probably)
Now the bullish confirmation areas. Firstly we can't even search something lower than the channel upper trendline break. This channel trendline has acted as a super strong resistance with multiple attempts to break above the channel but all those are failed attempts:
Light green box/first bullish confirmation area:
1. The price is above the lower blue trendline
2. Break above the channel, FINALLY
3. Another confirmation comes after the candle close above the dark-gray area
The dark gray area and the channel upper trendline makes this area super strong around $3,850 so, this means a lot of buying power to break those resistances.
The first target would be $4,000-$4,100
Green box, a possible second bullish leg confirmation area:
1. Break above both blue trendlines (since the drop from $6,5k)
2. Break above the $4,000
3. New HH (higher high) area
+4. Stronger confirmation comes after the candle close above the gray area
After the candle close above the gray area we could find that momentum which will guide us above the $4,500
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really appreciate it!
Have a nice day!
All the best!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Comment:
The main picture is hard to read on the phone so, here is the picture and watch out if the black counter trendline breaks, this lead the price into the first bearish area where You have to wait for some confirmations:
Enjoy!
Comment:
- Altcoins are getting some volume
- The fat black counter trendline has held us nicely and we are heading into the gray area, the strong area which matching with the channel upper trendline.
So, if we get a short pump from here than the first resistance is around $3,850
If You appreciate my work, please hit the LIKE button!
Thank You very much!
- The fat black counter trendline has held us nicely and we are heading into the gray area, the strong area which matching with the channel upper trendline.
So, if we get a short pump from here than the first resistance is around $3,850
Thank You very much!
Comment:
The price has made a breakout from the channel, finally + we have a 1H candle close above the $4k level and 30 min. to go to get 4H candle confirmation. If we get a 4H candle close above the $4k, then this means we have two short-term obstacles above us:
1. The blue down-trendline since the drop from $6,5k
2. The gray area around $4,150.
As I said on my previous update that the first target is around $4,000-$4,100 then it is achieved!
New updates with new confirmations are coming, I try to keep You posted.
And still, feel free to hit the LIKE button ;)
Thank You!
1. The blue down-trendline since the drop from $6,5k
2. The gray area around $4,150.
As I said on my previous update that the first target is around $4,000-$4,100 then it is achieved!
New updates with new confirmations are coming, I try to keep You posted.
And still, feel free to hit the LIKE button ;)
Thank You!
Comment:
If we start to make a little throwback (movement downwards) then the next leg upwards or the next attempt to break through from the upper blue trendline should come around $3,850 from the green box.
The strong gray are should act as a support and the channel trendline also should act as a support!
Thank You for your support!
The strong gray are should act as a support and the channel trendline also should act as a support!
Comment:
We have a small bullish confirmation:
Breakout from continuation pattern Falling Wedge/Bull Flag and a 1H candle close above the $4k level. So, two continuation confirmations within one candle close...let's see...
15 min. chart:
Breakout from continuation pattern Falling Wedge/Bull Flag and a 1H candle close above the $4k level. So, two continuation confirmations within one candle close...let's see...
15 min. chart:
Comment:
The continuation pattern worked very nicely and we are on the main short-term target area - around $4,150.
Here is the gray area which is worked strongly as a support but role reversal becomes into play and now the old support becomes resistance. The price may stop here for a while or if the bullish momentum and the FOMO kicks in then we go above from the mentioned level and we smash this area by strong candle upwards!
Technically, we are now above the major down-trendline since the drop from $6,500 and those which was strong resistance levels now becomes support level which is great because we need strong areas below the current price to hold that price up!
At least some positive action on the market, let's see how long does it carry us!
Here is the gray area which is worked strongly as a support but role reversal becomes into play and now the old support becomes resistance. The price may stop here for a while or if the bullish momentum and the FOMO kicks in then we go above from the mentioned level and we smash this area by strong candle upwards!
Technically, we are now above the major down-trendline since the drop from $6,500 and those which was strong resistance levels now becomes support level which is great because we need strong areas below the current price to hold that price up!
At least some positive action on the market, let's see how long does it carry us!
Comment:
Looks like we have slowly got the short-term resistance area from the major trendline since 30. March. So, You can slowly take out some short-term profits!
Comment:
Hey-hey-hey!
Here is my new idea post:
As always, do not forget to LIKE!
All the best!
Here is my new idea post:
All the best!
Cheers!