The market overall is moving sideways. BINANCE:BTCUSDT pulled back from the 72K resistance zone. Below we have an upward trendline that was holding price for the beginning of March. I think the market will compress before the extension. If the market retests the support level and trendline, we have a high chance of moving upside. On the weekly timeframe, it formed a long-tailed bar, meaning bulls keep pushing the price up. I expect the market to bounce off the level and then move toward the resistance that was tested twice. My goal is resistance at 73600.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Comment
⋅
BINANCE:BTCUSDT is rolling back from the resistance zone. It is trading around the key level at 70K. It has been going up and down for the last four days. I think the market will move upward from the swap zone. This level was respected before, and recently the market broke and closed above it. I look for simple accumulation and manipulation for the buy signal confirmation. The market is pulling back to the middle of the range zone, which will act as a support level. I expect a fakeout at the support level and new highs. My target is the resistance zone at 73000
Comment
⋅
BINANCE:BTCUSDT made a new extension upwards, and it's been conslodating since then. The market is trading above 69K. Everything below the level is a buying area. I think the price may go up because the price is respecting the support level. On the daily timeframe, the market formed a triangle formation, and currently it is moving toward the top of the range. I think we might experience volatility towards the end of the week. My goal is the resistance zone at 71300.00