Hope you all have great trades ! Now it's the time to think about the major resistance above. 📚 Notes : - Next try will be the 3rd to breakout; So it should be happened or #BTC will drop badly after failure try to break ? - Main resistance is located at ~$51483.00, So you need to pay attention for your bids; Don't set your bids before any hold above $52000.00 ! - Last week's high ( $50500.00 ) has become a resistance now; So watch for your LONG scalps, You can use the opportunity to set asks below it. - Volatility had bearish crossover recently and it can cause a drop to $44572.54 - $44572.54 support zone. - On our last analysis we mentioned $44000.00 zone as a main retest zone; Now there will be more sell pressure, If BTC shows weakness at the mentioned level ( 44K's zone ). - The lower support zones are standing at : 1️⃣ $42206.36 - $41461.83 2️⃣ $38473.61 - $37237.60 - Main direction will be bullish If BTC don't close below 38K's zone !
📍 #BTC has reached the resistance for the 2nd time and next attempt will be the 3rd; Based on 3rd and 5th rule breakout, I won't expect a continuation for bulls after 3rd failure attempt to break ! But there is still a chance for them to break above : 🔰 There's a scenario based on 12H's chart; #BTC can gain strength on local support at 47K's level, If #BTC manage to break; Then we'll set our bids on a retest of $51483.00 broken level. - Those who wants to scalp on breakout, Have to set their last targets on $53400.00 level.
📌 What's the plan ? I'll stick to my recent plan; I'll set my asks at 51K and below last week's low. There will be 2 scenarios to watch for : - Set your bids after a breakout above 51K's level ! - Set your bids at major supports mentioned on chart !
🔴 I'll rethink on $26800 retest, If BTC take hold below 38K's zone..
Hope you enjoyed our analysis about BTC's possible directions🙌 You can support us with your likes. Also you can share your opinion with us in comments 😉🙋🏼♂️
Attention: this isn't financial advice we are just trying to help people on their own vision.
as steeper it goes as more brutal the correction will be.
distribution has been started. the current price action is caused by supply shock.
the pullback can be monitored by the incoming flow of larger wallet addresses
which is already observable.
@ccf1130, Yeah man
I slept at 02:00 AM last night :(
prefabsprout
⋅
you keep falsely assuming btc will behave normally.
CrazyHorse1788
⋅
@prefabsprout so true. Whist this analysis is the obvious path. As confirmations of this path continue the composite man can use it for their own profit, creating a new path.
distribution has been started. the current price action is caused by supply shock.
the pullback can be monitored by the incoming flow of larger wallet addresses
which is already observable.