BTC has been stuck at macro resitance for along time indicating a move is comming soon.
Unfortunately there is no crystal ball to predict price but macro resistance is certainly worthy of covering longs and entering shorts.
With market a perfect balance between buyers and sellers the only question unasnwered is is there enough buyers comming into the market to hold the range and absorb the high volume of sell pressure in the 30-32k range.
Time with a with a brake and hold ofthe current highs is the only final confirmation that sell pressure has been absorbed and higher prices are on the way.
IF BTC does manage to brake and 32k we can use squares of the past price action for potential points in time and price to look for pivots.
This is a daily line chart that has been color coded to visually represent the square of past highs and lows couple with time in between.
Each of these points in time or price has a high potential of seeing a reaction.
Watch for a brake of high if not should be a smooth move down below the range.
Unfortunately there is no crystal ball to predict price but macro resistance is certainly worthy of covering longs and entering shorts.
With market a perfect balance between buyers and sellers the only question unasnwered is is there enough buyers comming into the market to hold the range and absorb the high volume of sell pressure in the 30-32k range.
Time with a with a brake and hold ofthe current highs is the only final confirmation that sell pressure has been absorbed and higher prices are on the way.
IF BTC does manage to brake and 32k we can use squares of the past price action for potential points in time and price to look for pivots.
This is a daily line chart that has been color coded to visually represent the square of past highs and lows couple with time in between.
Each of these points in time or price has a high potential of seeing a reaction.
Watch for a brake of high if not should be a smooth move down below the range.
Comment:
dates tracking very nicely
Comment:
63k has been hit the dates and levels on this chart opperate separately and have been valid thus far. 26.5 was support, bounce in the end of january, 39k support.
Price is now sitting just below 63k that hopefully it brakes above and claims as support rather than resistance. Next date is june
Price is now sitting just below 63k that hopefully it brakes above and claims as support rather than resistance. Next date is june