it is obvious that the main direction is downward, a probable reversal pivot on the purple bermuda level could be expected but befor that it should eat the tiny one minute red bermuda on 28.5k
predicting which level could be our reversal pivot needs to know how much level has eaten from last downward movement. unfortunately I don't have enough data to find low time frame(less than H1) levels from past ...
strength of each level depends on its time frame. till we have bunch of purple levels on 46k, I'm sure about downward trend...
I think probability of path 1 > path 2 > path 3 > path 4
they are going to break the low ( 26.7k ) but each path could have own final destination ...
Trade active
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as I mentioned before, bitcoin should eat the tiny bermuda on 28.5k
so it created a liquidity with 4 bottom on 28.6K and hunted sellers...
so BTC is ready for climb up to complete one of the 4 path I have drawn ...
Amazing analysis. We did move down to 28,600 and now moving up. for path 1, the price level is 36k before we head down? Appreciate your response
AlirezaAzarm
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@tahmidshahid, 36k is the first level, but we also have stronger purple levels above, the wider a level is, the stronger reaction on which scales would be expected
tahmidshahid
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@AlirezaAzarm, considering the market conditions, I doubt we'll go above 36k but good to know the levels above. Thanks brother.
AlirezaAzarm
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@tahmidshahid, your welcome, follow up the analysis, i will publish updates on it
tahmidshahid
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@AlirezaAzarm, will be looking forward to your updates 🙂
AlirezaAzarm
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@tahmidshahid, the tiny bermuda on 28.5K hast just eaten, ready to go up in order to complete of these paths
tahmidshahid
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@AlirezaAzarm, finally brother, I was almost liquidated in one of my alts ;( I hope we go to at least 36k now. thanks a lot for updating.
tahmidshahid
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Hello bro, are we still on track for 36k? Btc has been so stagnant