Yesterday we had a bull trap above 11000 level, actually 3rd bull trap on this levels in last few days. Means price was should go lower to test supports again before continue upwards movement.
So far looks like price has finished testing supports and that bear trap below 10400 that I mentioned in previous idea is the local low and probably price can go for a second test of 11000 from current levels.
Black lines is preferred and most possible scenario, I expect price will make a path towards resistance line of big bull flag in coming week.
But still if price breaks red line before getting above 11000, an orange line scenario can happen.
Today we will have a launch of Bakkt futures trading test, and thats probably should mean a high volatility , most likely to upwards side. This can help price to break finally 11000 level, because all news agencies will be posting about this launch, creating FOMO.
Current weekly close is good as well for bullish outcome of coming week.
Locally next day there is still possibility that bear trap below 10400 wasnt a low and price can go for a test of 9800-10200 support levels. But thats the maximum, if price drops lower it can ruin the whole bullish momentum and turn local trend into bearish one.
By the way I'm running tg channel where I provide free high quality BitMEX and Binance trading signals. And this idea is our current guideline for daytrading. Tradingview does not allow to post links, so search yourself on tg for "@Free_BitMEX_and_Binance_signals" or pm me for link.
Note: this idea is just a guideline for day trading in my tg channel, the most possible price action for upcoming days in my opinion. Of course I need a lot of confirmations to enter trade and post a signal in tg channel.
If you like this idea please don't forget to put a like and subscribe to profile to be alerted about idea updates in time:)
So far looks like price has finished testing supports and that bear trap below 10400 that I mentioned in previous idea is the local low and probably price can go for a second test of 11000 from current levels.
Black lines is preferred and most possible scenario, I expect price will make a path towards resistance line of big bull flag in coming week.
But still if price breaks red line before getting above 11000, an orange line scenario can happen.
Today we will have a launch of Bakkt futures trading test, and thats probably should mean a high volatility , most likely to upwards side. This can help price to break finally 11000 level, because all news agencies will be posting about this launch, creating FOMO.
Current weekly close is good as well for bullish outcome of coming week.
Locally next day there is still possibility that bear trap below 10400 wasnt a low and price can go for a test of 9800-10200 support levels. But thats the maximum, if price drops lower it can ruin the whole bullish momentum and turn local trend into bearish one.
By the way I'm running tg channel where I provide free high quality BitMEX and Binance trading signals. And this idea is our current guideline for daytrading. Tradingview does not allow to post links, so search yourself on tg for "@Free_BitMEX_and_Binance_signals" or pm me for link.
Note: this idea is just a guideline for day trading in my tg channel, the most possible price action for upcoming days in my opinion. Of course I need a lot of confirmations to enter trade and post a signal in tg channel.
If you like this idea please don't forget to put a like and subscribe to profile to be alerted about idea updates in time:)
Comment:
Do you find it funny how bitcoin has pumped right after Bakkt launch an hour ago?) Thats why this idea has this title :D
Comment:
Bulls failed to save green zone of 9800-10200. Means price can try to follow orange line scenario from the chart of this idea.
At the moment price is moving in a blue channel. Whenever price breaks this channel to upside we can expect a pump after that.
There is a 1000$ neutral range of 9200-10200. If bulls push price above 10200 that would mean correction is over and we can expect continuation of growth.
If bears drop price below 9200 this would mean new lows, much lower than 9000.
At the moment price is moving in a blue channel. Whenever price breaks this channel to upside we can expect a pump after that.
There is a 1000$ neutral range of 9200-10200. If bulls push price above 10200 that would mean correction is over and we can expect continuation of growth.
If bears drop price below 9200 this would mean new lows, much lower than 9000.
Above 10500 bullish momentum will be in safe again. But to invalidate the danger of head and shoulder pattern bulls need to push price above 10800.