this is a new idea, my previous idea about BTC will be attached as the first update below.
as I predicted before in the 1H time frame we had a obvious rising wedge which fulfilled and candles broke from the bottom and fall,
now I'm seeing 4 possible scenarios which I mentioned in color in the chart .
the green and most probable scenario we have 38% fibo retracement AND POC line ( red dotted line ) from volume profile, which making a good and reliable support area for us .
(considering RSI which is 40% right now , i thing when RSI reach over sold area price reach the 38% fibo and could be the cause for reverse )
then we have the orange one that area related to 50% fibo
and the red one is for fibo 68% and the midline of static horizontal channel ( purple channel ).
in the daily time frame, we have 59% RSI which I have to say RSI 50% is really strong support and I believe rsi could not break it, ( probable )
it's all my ideas and not a piece of financial advice.
THE FIRST CHART BELOW IS MY PREVIOUS IDEA ABOUT BTC .
as I predicted before in the 1H time frame we had a obvious rising wedge which fulfilled and candles broke from the bottom and fall,
now I'm seeing 4 possible scenarios which I mentioned in color in the chart .
the green and most probable scenario we have 38% fibo retracement AND POC line ( red dotted line ) from volume profile, which making a good and reliable support area for us .
(considering RSI which is 40% right now , i thing when RSI reach over sold area price reach the 38% fibo and could be the cause for reverse )
then we have the orange one that area related to 50% fibo
and the red one is for fibo 68% and the midline of static horizontal channel ( purple channel ).
in the daily time frame, we have 59% RSI which I have to say RSI 50% is really strong support and I believe rsi could not break it, ( probable )
it's all my ideas and not a piece of financial advice.
THE FIRST CHART BELOW IS MY PREVIOUS IDEA ABOUT BTC .
Comment:
I believe if we couldn't break the static channel so we have to range in it, and we will range in the upper half of the channel for this week and the next.
RSI should get support at 50 and bounce up
RSI should get support at 50 and bounce up
Comment:
these days fluctuations are not predictable so all the analysis for every crypto is not valid more than 2 days
Comment:
we are in a PRZ zone, this area is important if the price will reject again from this resistance it could cause the price to fall to the midline and even bottom of the static channel ( purple ).
Comment:
retracements good for the price
retracing after any sharp or continuous upward movement makes the situation stable and makes more opportunities for more growth.
as I see the green or yellow scenario is the most probable scenario to happen, each of them is good enough for BTC and ALTS
there a red scenario that would happen if the world financial market reacts negatively to the lockdown news or FUDs.
retracing after any sharp or continuous upward movement makes the situation stable and makes more opportunities for more growth.
as I see the green or yellow scenario is the most probable scenario to happen, each of them is good enough for BTC and ALTS
there a red scenario that would happen if the world financial market reacts negatively to the lockdown news or FUDs.
Comment:
the bullish channel is still valid until the price breaks the bottom of the channel
Comment:
still continue , a new idea will continue the trend
the idea above is my old idea about BTC
and from below I will update BTC
👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻