BTC 30M Possible Scenarios Along With S&D Areas
Hello Everyone,
Bitcoin recently touched/breached it's former ATH at some exchanges and this price move met with serious selling pressure which led to a retracement to 18K levels. There, aggressive buyers stepped in with a significant buying activity and managed to hold support level around this level. During this retracement, the price also touched at WO(Weekly Open) level at the same time which is considered one of the key levels in Price Action. Price currently floats between 30M Supply and Demand level. Although the recent M30D level(below the grey demand area) is untouched if the price manages to break through the supply level and managed to hold that area as support(not to be confused with supply&demand flip) it's most likely we are going to visit 19.95K level again. However, if the current area fails to hold the price, then the aforementioned M30 Demand level will be the first place to provide support for buyers.
Below that 18432 is an important level. Since the liquidity of this level has been mostly absorbed, I'm not sure if this level will be able to act as a support level in case if the price visits this area again. There is also a tick and cross icon on the chart. Tick icon means, this breakout level has been visited and liquidity absorbed, aka tested. Cross means on the other hand not tested and if the price retraces to this level, sellers might encounter possible strong buyers at this level. However, i expect the price to visit the demand area around 17330-17215 levels.
These are all educational/entertainment purposes only. Should not be taken as financial advice.
Bitcoin recently touched/breached it's former ATH at some exchanges and this price move met with serious selling pressure which led to a retracement to 18K levels. There, aggressive buyers stepped in with a significant buying activity and managed to hold support level around this level. During this retracement, the price also touched at WO(Weekly Open) level at the same time which is considered one of the key levels in Price Action. Price currently floats between 30M Supply and Demand level. Although the recent M30D level(below the grey demand area) is untouched if the price manages to break through the supply level and managed to hold that area as support(not to be confused with supply&demand flip) it's most likely we are going to visit 19.95K level again. However, if the current area fails to hold the price, then the aforementioned M30 Demand level will be the first place to provide support for buyers.
Below that 18432 is an important level. Since the liquidity of this level has been mostly absorbed, I'm not sure if this level will be able to act as a support level in case if the price visits this area again. There is also a tick and cross icon on the chart. Tick icon means, this breakout level has been visited and liquidity absorbed, aka tested. Cross means on the other hand not tested and if the price retraces to this level, sellers might encounter possible strong buyers at this level. However, i expect the price to visit the demand area around 17330-17215 levels.
These are all educational/entertainment purposes only. Should not be taken as financial advice.