Good afternoon,
Today I will set price action targets for the week ahead so you guys will be ready to take action on certain price levels.
Right now BTC is trading more on a stable side, with volatility slowly falling. This gives us a hint that we have to prepare for a big movement in the next few days.
After attaining a sell 9 candle on a 4hr chart it would be normal to assume that we have to await a downwards movement, however our technical indicators are not signalling us yet for a big downfall, however let's set targets here we could accumulate more BTC for long position.
As I mentioned yesterday, the strongest area of support for us is from 7250 up to 7500, however with little whale activity it will be harder to attain those levels.
On a higher levels we have to test uncharted waters for support on 8000 and 8300. Our technical indicators will be signalling for a reversal in these price areas, but we have to wait for confirmation.
From a bullish perspective, our key level will be a 9200 price level and if we will close above 9300 with a full body of a candle we could try and test the upper boundary of a global triangle and test 10k mark. With halving lowly approaching it seems that general investors are interested in this event and are willing to risk for a chocolate biscuit.
Additionally, let's not forget about the SP, yesterday it was actively selling off, forming a bear flag. We could see an attempt to break down former break down area.
Wish everyone profit,
and have a good weekend
Please Note that
The Content is for informational purposes only, all content on this post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this post constitutes professional and/or financial advice, nor does any information constitute a comprehensive or complete statement of the matters discussed. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information.
Today I will set price action targets for the week ahead so you guys will be ready to take action on certain price levels.
Right now BTC is trading more on a stable side, with volatility slowly falling. This gives us a hint that we have to prepare for a big movement in the next few days.
After attaining a sell 9 candle on a 4hr chart it would be normal to assume that we have to await a downwards movement, however our technical indicators are not signalling us yet for a big downfall, however let's set targets here we could accumulate more BTC for long position.
As I mentioned yesterday, the strongest area of support for us is from 7250 up to 7500, however with little whale activity it will be harder to attain those levels.
On a higher levels we have to test uncharted waters for support on 8000 and 8300. Our technical indicators will be signalling for a reversal in these price areas, but we have to wait for confirmation.
From a bullish perspective, our key level will be a 9200 price level and if we will close above 9300 with a full body of a candle we could try and test the upper boundary of a global triangle and test 10k mark. With halving lowly approaching it seems that general investors are interested in this event and are willing to risk for a chocolate biscuit.
Additionally, let's not forget about the SP, yesterday it was actively selling off, forming a bear flag. We could see an attempt to break down former break down area.
Wish everyone profit,
and have a good weekend
Please Note that
The Content is for informational purposes only, all content on this post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this post constitutes professional and/or financial advice, nor does any information constitute a comprehensive or complete statement of the matters discussed. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information.