I'm starting to lean more and more towards that this ranging level is it, that the low 6K's are off the table for some time.
As one can see that the 7K is being defended well, refer to 3 D chart. Its still too early to say when to go long. One step at a time.
PS> Gold is still performing well and hence why I think, BTC will follow suite. Gold reference below >
For now, the next micro move is still bullish because looking at the Daily, 3 Daily and 5 Daily, the charts look good from a candle stick perspective, for the 8K target.
I'm not talking about going long because the 8K is a strong resistance.
Observations
> From a pattern perspective, one can observe on the 4 HRLY that we are still in a channel and got stopped at the upper boundary.
> RSI reflecting the channel as well and hence I perceive the following movements, as per the main chart.
> I don't envision it going up further at this point because we did not get a decisive break and hence hesitance took over.
> 30 min chart has bearish divergence, so lets see how this plays out.
But if I do see some accumulation\bullish div. tone, I will jump back in.
3 Daily chart > some bullish momentum
5 Daily chart > No clear direction yet
At the MACRO level, I have not ruled out any scenarios as per my post which has 4 scenarios.
Please give a thumbs up or a like if you agree or just appreciate the effort.
Regards,
S.Sari /CryptoProspa
30 min chart has bearish divergence, so lets see how this plays out.
Other perspectives when it comes to support and resistance lines
www.tradingview.com/chart/3UzF31mA/
Gold chart, daily
As one can see that the 7K is being defended well, refer to 3 D chart. Its still too early to say when to go long. One step at a time.
PS> Gold is still performing well and hence why I think, BTC will follow suite. Gold reference below >
For now, the next micro move is still bullish because looking at the Daily, 3 Daily and 5 Daily, the charts look good from a candle stick perspective, for the 8K target.
I'm not talking about going long because the 8K is a strong resistance.
Observations
> From a pattern perspective, one can observe on the 4 HRLY that we are still in a channel and got stopped at the upper boundary.
> RSI reflecting the channel as well and hence I perceive the following movements, as per the main chart.
> I don't envision it going up further at this point because we did not get a decisive break and hence hesitance took over.
> 30 min chart has bearish divergence, so lets see how this plays out.
But if I do see some accumulation\bullish div. tone, I will jump back in.
3 Daily chart > some bullish momentum
5 Daily chart > No clear direction yet
At the MACRO level, I have not ruled out any scenarios as per my post which has 4 scenarios.
Please give a thumbs up or a like if you agree or just appreciate the effort.
Regards,
S.Sari /CryptoProspa
30 min chart has bearish divergence, so lets see how this plays out.
Other perspectives when it comes to support and resistance lines
Gold chart, daily
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30 min chart
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one would expect a bounce here?
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I didn't think it will try the top again.
Either way, I kept shorting with my short portfolio..Good day
I don't expect it to go up further...go sideways to break the resistance but most likely not. At most it might hit the wedge support
Either way, I kept shorting with my short portfolio..Good day
I don't expect it to go up further...go sideways to break the resistance but most likely not. At most it might hit the wedge support
Comment:
Interesting...where now. If it holds above 7500, then that's bullish
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That's probably a good attempt but I think that is it.
I like to document these moves so I can reference them later, learn from them.
I like to document these moves so I can reference them later, learn from them.
Discord: discord.gg/JC7CDdJv (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.
