***Please thumbs up and share too spread some TA love***
Showing some trendlines which can act as support and still in play as we possibly hunt for a new floor over the weekend
Initially, i was using the trend lines as resistance to see when price action causes a breakout, but now they have become support and even tho I had this on my exchange charts, I thought it best to share them on here too with you lovely lot of cryptonerdz (me too)
Still bullish tendencies here going into the weekend, and i don't expect many fireworks over the break until we get back on Monday BUT never say never, I've noticed weekend trading volume at a very low amount compared to the weekdays due to new institutional investors mainly working 9-5 still
Let's see if these levels can hold and make our case for bitcoin obeying TA a bit more widely accepted
Have a great weekend
Major out x
*note sorry if chart is not updating with new market data, im going thru all my settings after a bit of a break to get it fixed, so it might take a few goes till i get it right! if anyone knows the right settings plz let me know x
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just need to hold the line now
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its a fight for 59.5k hehehe
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Ideally want to see BTC close the weekly candle above 60k+
few hours to go till weekday markets startup
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not great but could be worse...
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first of trend support levels being tested
looks much stronger at 53k tho - let see
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still holding out at these levels, never bet against the honey badger
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descending wedge on the 1hr chart
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looks good, huge bitcoin buying by whales at 60k anything under that should be fine
load of coins being taken off-exchange both BTC and ETH - super cycle is about to begin just taking a bit longer
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close below 53k could be a more concerning sign, close above 54k all is fine x
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respecting the TA to a tee
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the big market play late on Friday last week really took out the current TA
mad, my support lines (extended) come into play still x
MASSIVE amount of liquidations, billions of $$ worth
gunna be a big bear uprising while prophets try and predict what's coming next
personally looking at 1hr/4hr/1d charts still looks bullish, only if 45k starts getting tested i might change my tune towards a new monthly low
watch DXY and dollar strength this week, looks messy already
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we have a break out of the range
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4hr view showing where those phantom support lines still seem to be in play
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powerful lines of support and resistance, sticking to my guns x
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all ive done is extend my trends lines of support
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look where the latest trend lines converge!
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BIG whipsaws over the last 48 hrs, great for a day trader if u can get the sweet spots!
Anyhow, while upside of that uptrend channel the price was extremely bullish but always going up to fast IMO, some margin plays cause the rapid movements and now we're back in the channel but not out of the woods, selling pressure brought us down to the current support level and ideally i'd like to see this hold for futher gains into the weekend and beyond
@zelenypomaranc, its very possible yes, especially if close under certain levels on the weekly
MartinK5464
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@majorlee, thanks, mate. I got one more question, I'm not sure if you heard about bullish.com the new exchange from Block one... There should be a liquidity pool with lots of BTC do you think that it will make the BTC less volatile?