Hello Community!
Let's take a look at BTC /USD on the Daily TF. I went ahead and mapped THE NEXT MAJOR S/R zones. BTC did what's called a fake-out it dropped below the 31k support to 28ks and was quickly bought back up causing a massive hammer after a sell-off indicating a bullish move is on the way. It has already had a nice pump and based on the S/R zones mapped I can see BTC pumping 20% to the 55 ema on the daily TF. Also, let's keep an eye on the blue resistance line drawn in the RSI indicator. My guess is when the price hits the 55 EMA it will also hit the blue line on the RSI! This is just my prediction. Let's see how it plays out!
Don't trade with what you're not willing to lose.
Love it or hate it, hit that thumbs up and comment. It'll be greatly appreciated!
This is not financial advice.
Safe Trading Calculate Your Risk/Reward & Collect!
Simplicity Wins
Let's take a look at BTC /USD on the Daily TF. I went ahead and mapped THE NEXT MAJOR S/R zones. BTC did what's called a fake-out it dropped below the 31k support to 28ks and was quickly bought back up causing a massive hammer after a sell-off indicating a bullish move is on the way. It has already had a nice pump and based on the S/R zones mapped I can see BTC pumping 20% to the 55 ema on the daily TF. Also, let's keep an eye on the blue resistance line drawn in the RSI indicator. My guess is when the price hits the 55 EMA it will also hit the blue line on the RSI! This is just my prediction. Let's see how it plays out!
Don't trade with what you're not willing to lose.
Love it or hate it, hit that thumbs up and comment. It'll be greatly appreciated!
This is not financial advice.
Safe Trading Calculate Your Risk/Reward & Collect!
Simplicity Wins
Comment:
BTC is currently trying to form a higher low on the 4hr TF which is expected before a solid move up. If the previous low fails, it will fall sharply to the next Major support around the low 20ks possibly 15k eventually.