Bitcoin Analysis 1H Chart - 7/03/2002 - Sofi12z
On the daily chart, as we can see, the price came quite close to the weekly resistance for the second time.
In this case I can't break it and a new daily resistance was generated and the previous weekly one is still intact. Hence what I mentioned in graph of 1H.
Institutional rising shorts and finally Whales giving Bitcoin liquidity to exchanges for open interest trading or other operations.
Finally the fall happens. We touch support 1D/3D/5D. I really prefer to ignore the diary and only consider the 3D/5D.
My idea is simple. Wait to hold above the 3D/5D support for a little push towards the Weekly Low Resistance at 42446. From there you get a bit of a gray area. Finally a break of this trend is up or down (Remove the Lateral zone).
Specifically the important levels are:
3D/5D (Support) - Because it is the only point that we have as an interest in buying demand in order to keep the price above the Weekly Support.
1W (Support) - This support is the one that has lasted the longest in this zone that a lateralization is made, specifically because it has tolerated several attempts to break it downwards (It is the area with the greatest demand for purchases, currently demonstrated by the volume of futures on CME and exchanges amount of BTC ).
3D (Resistance) - Finally the Resistance of 3D Supply, which is the only one that we should be careful about in case the weekly resistance is broken, since this point is the only one that could take away the possibility of scaling. In case we are rejected there we will probably have a crypto winter without new ATHs for a long time..
1W (Resistance) - If broken, it would give rise to an attempt to break the larger Supply zone that is set in 3D, where there is also a gap that has not been closed for a long time at 52200, specifically there.
From here he made it clear that my idea is towards 42400 in Long.
In this case I can't break it and a new daily resistance was generated and the previous weekly one is still intact. Hence what I mentioned in graph of 1H.
Institutional rising shorts and finally Whales giving Bitcoin liquidity to exchanges for open interest trading or other operations.
Finally the fall happens. We touch support 1D/3D/5D. I really prefer to ignore the diary and only consider the 3D/5D.
My idea is simple. Wait to hold above the 3D/5D support for a little push towards the Weekly Low Resistance at 42446. From there you get a bit of a gray area. Finally a break of this trend is up or down (Remove the Lateral zone).
Specifically the important levels are:
3D/5D (Support) - Because it is the only point that we have as an interest in buying demand in order to keep the price above the Weekly Support.
1W (Support) - This support is the one that has lasted the longest in this zone that a lateralization is made, specifically because it has tolerated several attempts to break it downwards (It is the area with the greatest demand for purchases, currently demonstrated by the volume of futures on CME and exchanges amount of BTC ).
3D (Resistance) - Finally the Resistance of 3D Supply, which is the only one that we should be careful about in case the weekly resistance is broken, since this point is the only one that could take away the possibility of scaling. In case we are rejected there we will probably have a crypto winter without new ATHs for a long time..
1W (Resistance) - If broken, it would give rise to an attempt to break the larger Supply zone that is set in 3D, where there is also a gap that has not been closed for a long time at 52200, specifically there.
From here he made it clear that my idea is towards 42400 in Long.