BTC Global Review (Updated)
Since part of the past global review worked out, I decided to update it with the next price movements.
The main levels:
10500 - a strong level of resistance, it is interesting in cases of consolidation above or below it.
8380 - local resistance, also an interesting consolidation to us above this level, for a set of positions in the long.
7420 - local support, when consolidating above it there is a reason for price growth to 8000, possibly 8380.
6060 - a strong level of support, a big reason to fall there, as the trend is downward. There will most likely be a price stop and after that you will need to look for an entry point. Accordingly, if the price fixes above the level, it will go up and break the trend line, which will provide an opportunity for growth up to 9000 inclusive. But the price can break through it, and if the price fixes lower, it will slowly go down to 5000.
4940 - is a strong support level, you can also count 5000, there will be a larger zone (4860-5200), from which the price should confidently bounce if it comes here. Since there was a stop in the past and after which there was a strong growth. But I do not rule out breaking, and if the price can break through this support, it will go to 3470.
3470 - is one of the strongest support levels. From him there was an increase to 20000, he kept a decline from 20000, maybe he will continue to give a chance to update All Time Height. This level is as strong as possible and with a decrease in price here, there will be mass purchases and a very large liquidity. It can be assumed that a rebound of up to 8000 is possible from this level in a week, and only then will resistance be felt. Below the price will not be allowed!
But what to expect in the near future?
The answer is simple, wait for the price reduction to continue. I would like to see a decrease to 6000, after which there will be large purchases and gaining positions for growth. When approaching 6000, I will analyze the situation in more detail and look for entry points. Significant levels are 6000, 5000, 3500. A more rapid increase to 8000 is possible even without a decrease to 6000, this should not be ruled out. It is also seen that the MAs formed a downtrend. Since MA 28 is higher than MA 14 and most likely a corridor will be built, when they begin to descend, then this corridor will increase. The growth itself will not be too big and it will be difficult to catch, but after growth to the corridor there will be a new decrease (I have already described everything in my idea about the corridor between MAs).
Of course, it is not a fact that the price can fall to those levels and no one confirms this, but the expectations of many traders are as follows. After all, buyers with a small deposit will continue to buy on highs and run into the outgoing train, after which there will be a reduction in price.
About the GAP on CME
Most likely, a gap will be formed, or rather, if it is formed it will be very good. Basically, the price will most likely fall to 6000 (6700-6500-6300), after which the price will hit in support and should go higher from 6500.
For confident further growth, you need to see 2 patterns:
1. Break through from bottom to top near the level of 7030 from 6000 and consolidate over it, after which it is worth taking a long and working with points 7300-7500-7700-8000.
2. The growth will not end there, if we see the following picture: there was consolidation on the left (after the price fell down), then the price needs consolidation to be at the level of 8000-8200. Then again it is worth going into long or buying positions (but with a 90% probability) and then breaking down the resistance and going straight to 9000.
This is an option for further actions, but the main condition is that tomorrow the price goes down and there is a gap.
Conclusion
You need to see significant levels for yourself and you can imagine movement up to 6000 in potential.
The main levels:
10500 - a strong level of resistance, it is interesting in cases of consolidation above or below it.
8380 - local resistance, also an interesting consolidation to us above this level, for a set of positions in the long.
7420 - local support, when consolidating above it there is a reason for price growth to 8000, possibly 8380.
6060 - a strong level of support, a big reason to fall there, as the trend is downward. There will most likely be a price stop and after that you will need to look for an entry point. Accordingly, if the price fixes above the level, it will go up and break the trend line, which will provide an opportunity for growth up to 9000 inclusive. But the price can break through it, and if the price fixes lower, it will slowly go down to 5000.
4940 - is a strong support level, you can also count 5000, there will be a larger zone (4860-5200), from which the price should confidently bounce if it comes here. Since there was a stop in the past and after which there was a strong growth. But I do not rule out breaking, and if the price can break through this support, it will go to 3470.
3470 - is one of the strongest support levels. From him there was an increase to 20000, he kept a decline from 20000, maybe he will continue to give a chance to update All Time Height. This level is as strong as possible and with a decrease in price here, there will be mass purchases and a very large liquidity. It can be assumed that a rebound of up to 8000 is possible from this level in a week, and only then will resistance be felt. Below the price will not be allowed!
But what to expect in the near future?
The answer is simple, wait for the price reduction to continue. I would like to see a decrease to 6000, after which there will be large purchases and gaining positions for growth. When approaching 6000, I will analyze the situation in more detail and look for entry points. Significant levels are 6000, 5000, 3500. A more rapid increase to 8000 is possible even without a decrease to 6000, this should not be ruled out. It is also seen that the MAs formed a downtrend. Since MA 28 is higher than MA 14 and most likely a corridor will be built, when they begin to descend, then this corridor will increase. The growth itself will not be too big and it will be difficult to catch, but after growth to the corridor there will be a new decrease (I have already described everything in my idea about the corridor between MAs).
Of course, it is not a fact that the price can fall to those levels and no one confirms this, but the expectations of many traders are as follows. After all, buyers with a small deposit will continue to buy on highs and run into the outgoing train, after which there will be a reduction in price.
About the GAP on CME
Most likely, a gap will be formed, or rather, if it is formed it will be very good. Basically, the price will most likely fall to 6000 (6700-6500-6300), after which the price will hit in support and should go higher from 6500.
For confident further growth, you need to see 2 patterns:
1. Break through from bottom to top near the level of 7030 from 6000 and consolidate over it, after which it is worth taking a long and working with points 7300-7500-7700-8000.
2. The growth will not end there, if we see the following picture: there was consolidation on the left (after the price fell down), then the price needs consolidation to be at the level of 8000-8200. Then again it is worth going into long or buying positions (but with a 90% probability) and then breaking down the resistance and going straight to 9000.
This is an option for further actions, but the main condition is that tomorrow the price goes down and there is a gap.
Conclusion
You need to see significant levels for yourself and you can imagine movement up to 6000 in potential.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.