BTCUSDT
BTCUSDT.P
Hello Traders,
Reporting again from Konoha.
Its been a while now, i was sick but im starting to write again.
The meta report of BTC today:
What have happened:
1. On 26th BTC dumped and managed to be held by its 4 hr support hold lv, it tested its 15 min resistance and failed to break up, as a result it further dumped into current area of 21K now.
2. Today, on 21K it looks like the 4 HR support lv is holding the move down, it has been 11 hrs past the tested resistance and it is still holding.
In my opinion there can be 2 possibilities:
A. As the 4HR is holding, there have been a laddering sign, NO 1 and NO 2 is the ladder which is a sign for recovery. The FIRST POSSIBILITY, BTC will rally up 2% touching its hold lv at 21505 (white line) and continue moving down with possibility of creating further ladder to break the downtrend. This move is similar to the previous event on 26.
B. SECOND POSSIBILITY, as the laddering formation has been formed, there are no more resistance below 21K, first and second ladder point all have been tested, The most possible target for its dump is ON 20631 (Green Line) which is the greediest 1 HR hold lv.
Thats the meta report for today i hope it is useful, however, i like the idea of longing BTC now on scalp, just to get to the resistance before it further dump.
Then again, this is not a financial advice.
Trade carefully and accordingly.
Thank you for the support,
Leave questions, comments, or like it if you do. I will reply.
Goodluck Traders! :)