BTCUSD Bitcoin: The short-term answers to the test ;) 20.4
A wall of text would do you guys and gals no good.. so let's jump to business!
1) Higher lows on short-term and longer-term time-frames.
2) Big triangle consolidation on 4H chart marked with arrows on highs and lows.
3) Around current rates (41,600) is an important resistance (triangle consolidation top) - Once surpassed, the next level is (43,300) - A break above this rate would allow significant upside to the high 40k's and low 50k's which will be covered once relevant.
4) Critical support levels stand at: 40,000 and 38,500 - A drop below would allow 35,000 weekly support to be tested.
**The rockets represent:
-Green one is a break above 43,300 which would allow immediate rally
-Red one is a break below 38,500 which would allow immediate flash crash to 35,000.
**Fundamentals are strong for Bitcoin as inflation continues to surge, Russia is now implementing cryptocurrency is an official form of payment, Biden is looking to regulate crypto-currency, etc,etc..
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Thank you!!
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1) Higher lows on short-term and longer-term time-frames.
2) Big triangle consolidation on 4H chart marked with arrows on highs and lows.
3) Around current rates (41,600) is an important resistance (triangle consolidation top) - Once surpassed, the next level is (43,300) - A break above this rate would allow significant upside to the high 40k's and low 50k's which will be covered once relevant.
4) Critical support levels stand at: 40,000 and 38,500 - A drop below would allow 35,000 weekly support to be tested.
**The rockets represent:
-Green one is a break above 43,300 which would allow immediate rally
-Red one is a break below 38,500 which would allow immediate flash crash to 35,000.
**Fundamentals are strong for Bitcoin as inflation continues to surge, Russia is now implementing cryptocurrency is an official form of payment, Biden is looking to regulate crypto-currency, etc,etc..
------------------------------------------------------------------------------------------------
If you liked my analysis, please follow and like :D I would truly greatly appreciate it.
If you have any questions, please ask me and I promise to answer in detail if necessary.
My target is to benefit as many traders as possible.
Thank you!!
-------------------------------------------------------------------------------------------------
Trade closed: target reached:
38,500 support target is reached!
Since it was reached, we are back to 40,600 - Aggressive reversal from the support as expected is now taking place.
A close above 41,600 and 42,800 is necessary for further continuation up.
Interesting to follow :)
Since it was reached, we are back to 40,600 - Aggressive reversal from the support as expected is now taking place.
A close above 41,600 and 42,800 is necessary for further continuation up.
Interesting to follow :)
That could mean a quick close to $2k jump to the low 43k's!
Who's trading it? :D