Hi All,
It seems there are 2 scenario's at play, that I envision.
a) Continuation within the established channel to the top trend line (from 2017 ATH to 2019 ATH);
b) Confirming upward wedge with a significant pullback and then continuing upwards in a separate channel;
At this point, using the 4 HRLY or 12 HRLY or Daily RSI, we have seen the bottom of the trend line intact and hence to continue the upward trend.
It a tough call which scenario it will be.
Mind you, It doesn't matter if you trade based on your strategy.
If you note in the past month or so, where we have strong resistance seems to be the area to be tested as support. Hence (while I write this, I see the pullback to 9550 which is a good, minor support level)
I think the 9300 to 9400 is where I see strong support and tested.
Based on my method, using fib channels plus other previous lines of support, the next real resistance is starting at 10200 to 10400.
(It seems that every major pullback has confluence with my fib, channel lines and how I placed them)
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari
(for my reference > Macro.charts)
4 HRLY chart (for my reference, Master.copy)
Profile based chart, for support and resistance
Using Cradle zone method > based on different time periods, have the 10 and 20 EMA method and in some cases the 50 and 100 EMA.
Here I make the area between them shaded and hence a ribbon layout
Previous Post, for further details leading up to this post
It seems there are 2 scenario's at play, that I envision.
a) Continuation within the established channel to the top trend line (from 2017 ATH to 2019 ATH);
b) Confirming upward wedge with a significant pullback and then continuing upwards in a separate channel;
At this point, using the 4 HRLY or 12 HRLY or Daily RSI, we have seen the bottom of the trend line intact and hence to continue the upward trend.
It a tough call which scenario it will be.
Mind you, It doesn't matter if you trade based on your strategy.
If you note in the past month or so, where we have strong resistance seems to be the area to be tested as support. Hence (while I write this, I see the pullback to 9550 which is a good, minor support level)
I think the 9300 to 9400 is where I see strong support and tested.
Based on my method, using fib channels plus other previous lines of support, the next real resistance is starting at 10200 to 10400.
(It seems that every major pullback has confluence with my fib, channel lines and how I placed them)
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari
(for my reference > Macro.charts)
4 HRLY chart (for my reference, Master.copy)
Profile based chart, for support and resistance
Using Cradle zone method > based on different time periods, have the 10 and 20 EMA method and in some cases the 50 and 100 EMA.
Here I make the area between them shaded and hence a ribbon layout
Previous Post, for further details leading up to this post
Comment:
BTC area of interest for me now is higher, looking for another touch on the support (blue bar)
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
I'll be waiting to see how this settles in the 8hrly to 12 hrly charts.
See what the MA are doing, the candle sticks etc. Then I'll post what I think is next.