Bitcoin (XBT/USD) crtical levels to watch in coming days/weeks
Green rectangle is the weekly OB where most of the price movements have been happening since early September 2018. D1 close above green rectangle would be a bullish signal. However, an S/R flip would be confirmation for bullish continuation.
Blue rectangle is the daily OB where another rejection is likely if price moves up towards it from current level.
Green line is the last support level on D1 (Daily close below it without any immediate bounce up will be nasty).
Red rectangle is the weekly OB and resistance level. Weekly close above red rectangle means moon.
My bias: Bearish until we see a weekly close above red rectangle
Blue rectangle is the daily OB where another rejection is likely if price moves up towards it from current level.
Green line is the last support level on D1 (Daily close below it without any immediate bounce up will be nasty).
Red rectangle is the weekly OB and resistance level. Weekly close above red rectangle means moon.
My bias: Bearish until we see a weekly close above red rectangle
Comment:
I am not seeing a single bullish sign in BTC. I am already in a short from 6420 and planning to add more shorts till the weekly OB at 6700 is impulsively broken upwards (no wick) followed by 6700 acting as support on daily timeframe. How many more hits to 6k level support from same direction before all buyers are exhausted?
Comment:
Nothing major has happened since my last update 10 days ago. Bitcoin is still rangebound within the weekly OB. I am still still holding shorts from 6420. I had some more sell orders above near the top line of weekly OB which were not even triggered during the recent weak pump.
My bias is still the same. Bearish until we see a weekly close above red rectangle
My bias is still the same. Bearish until we see a weekly close above red rectangle
Comment:
Don’t tell me that I haven’t warned you. How sweet is my short from 6420?