Bitcoin (BTC): Monthly Opening / Pushy Market / Fakeout To 50K?
First week of the new month is here and we are seeing some upward momentum here, pushing the upper resistance zone (potentially going for a fakeout).
We are looking at current zones, which are $69-71K which are a huge point of interest for us for a potential fakeout zone right there.
But this is not mandatory, as we are near correction phase where accumulation has already happened and is about to end and now that Bollinger Bands upper and lower lines are tightening, we see a good chance for breakdown to happen soon.
As you all know, we have major target zone, which is $50K, so let's see if June will be the month for it 😉
Swallow Team
We are looking at current zones, which are $69-71K which are a huge point of interest for us for a potential fakeout zone right there.
But this is not mandatory, as we are near correction phase where accumulation has already happened and is about to end and now that Bollinger Bands upper and lower lines are tightening, we see a good chance for breakdown to happen soon.
As you all know, we have major target zone, which is $50K, so let's see if June will be the month for it 😉
Swallow Team
הערה:
Bitcoin made a massive upward movement that grabbed our point of interest zone (which we mentioned on Monday).
Now that we have entered another zone of fakeout, we are looking for any potential rejections to happen from here.
As soon as we see a nice rejection, we will also be looking for some alts to grab lower zones!
But if we manage to secure the fakout zone and break from it, then the next zone will be $74K.
Now that we have entered another zone of fakeout, we are looking for any potential rejections to happen from here.
As soon as we see a nice rejection, we will also be looking for some alts to grab lower zones!
But if we manage to secure the fakout zone and break from it, then the next zone will be $74K.
הערה:
Bitcoin is forming another fakeout zone after a nice attempt to breakout from local resistance zone.
We are keeping an eye to enter the zone below that resistance!
We are keeping an eye to enter the zone below that resistance!
הערה:
What a nice movement we had from Bitcoin after yesterday's fakeout movement to the upper zones, leading the price to break below the local resistance zone.
Now that we are seeing a touch of 100EMA, we are looking for a full-scale break to happen from it, which would result in a good downward move to even lower zones!
Now that we are seeing a touch of 100EMA, we are looking for a full-scale break to happen from it, which would result in a good downward move to even lower zones!
הערה:
The first target has been reached, which resulted in a nice 13% market price movement from the local top (the new ATH).
As the price has stopped near $60K, we are looking for some kind of small recovery to happen here, but no further than $64K. After that, we want to see another attempt to break that local $60K zone and fully secure that zone there, which would result in a movement to $50K (where the majority of the market is lying as of now).
As the price has stopped near $60K, we are looking for some kind of small recovery to happen here, but no further than $64K. After that, we want to see another attempt to break that local $60K zone and fully secure that zone there, which would result in a movement to $50K (where the majority of the market is lying as of now).
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We are looking for a new daily candle closing price, as if we see it secure below that Bollinger Band middle, this could start our major move (that we have been waiting for).