BTC Market Next Possible Movement
Hi everyone, here is my TA on BTC on a 1h TF
- After BTC hit the upper trend line, it got a quick rejection
- Made a little bit of consolidation between 36k - 37k and still got a rejection from the 37k key level or resistance
- Since we're on weekend, I expected BTC to make a sell pressure from the key level of resistance 37k and made a decent amount of profit
- Now, the price of BTC broke the key level of support around 36k, we might get a small pullback from 35k to 36k and if we got a rejection, we might get another selling pressure. I'll be watching the behavior from the lower time frame to find another short term position for sell short
- since we are getting a series of higher low, btc has a potential to form descending triangle, which make the previous symmetrical triangle invalid
- Overall, since btc has been consolidating for the past weeks, we still can't confirm it's possible direction
- My key level of mid-long term S/R is 30k for support and 43k for Resistance
That's all guys! Take care! NFA, DYOR & TAYOR
- After BTC hit the upper trend line, it got a quick rejection
- Made a little bit of consolidation between 36k - 37k and still got a rejection from the 37k key level or resistance
- Since we're on weekend, I expected BTC to make a sell pressure from the key level of resistance 37k and made a decent amount of profit
- Now, the price of BTC broke the key level of support around 36k, we might get a small pullback from 35k to 36k and if we got a rejection, we might get another selling pressure. I'll be watching the behavior from the lower time frame to find another short term position for sell short
- since we are getting a series of higher low, btc has a potential to form descending triangle, which make the previous symmetrical triangle invalid
- Overall, since btc has been consolidating for the past weeks, we still can't confirm it's possible direction
- My key level of mid-long term S/R is 30k for support and 43k for Resistance
That's all guys! Take care! NFA, DYOR & TAYOR
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