Nearing Support; Threat In Directional Change | #BTCUSD #BTC
A few days ago, we defined a potential level of support at 895.32, representing a level of significant support. Look for price spikes at that level, as the market absorbs stop-losses and new long orders.
Again, a break of 884.75 opens the floor to bearish targets, one of which we drew as a preliminary candidate, although we remain neutral-to-bullish in our current outlook.
That outlook would change given structural changes in this particular chart.
OVERALL:
Watch for significant "fights" at 895.32 via volume spikes, A structural deterioration from 884.75 and below would open floor to lower targets yet to be defined.
Cheers,
David Alcindor | 4xQuad.com
Again, a break of 884.75 opens the floor to bearish targets, one of which we drew as a preliminary candidate, although we remain neutral-to-bullish in our current outlook.
That outlook would change given structural changes in this particular chart.
OVERALL:
Watch for significant "fights" at 895.32 via volume spikes, A structural deterioration from 884.75 and below would open floor to lower targets yet to be defined.
Cheers,
David Alcindor | 4xQuad.com