BTC/USD : Most important level to hold; Where are we heading ?
BYBIT:BTCUSD
BTCUSDT
Recently we had a bounce above $50796 and it's also broke above Daily EMA200 !
Now it's been rejected because of the hourly candle close below $50796 and it's located one Daily EMA200 and EMA 33/55 cloud.
The main idea is still can be bullish because of the support from $49500's S/R line and the EMAs below.
But any confirmation below $49500 will lead the pair into lower S/R zone and the lower support zone at $46600.
So it's very suggested to have a look on #BTC's movement in weekend and tomorrow's range because it can push the pair above $51800 ( Main resistance RN ).
How it can push the pair above $51800 ? It's simple; Because of the current gap forming in weekend !
📚 Also we can have another overview on the chart By adding the Supply/Demand zones and order-blocks :
As you can see on the chart there was a supply formed below $52000 and it just rejected the pair below the $50600's S/R level !
Now it's located above S/R line; We can say that If we get rejected again, We might retest the lower bullish order-block and the other S/R line at $48000 and continue our path to sweep the higher 2D's FVG and fill the gap above.
- Also we can track our bears into the Wick's mid or lower H12's Demand at $40550 !
So there're many scenarios being activated by losing any level to level.
📊 Then how I would play the chart ? Follow me 👇🏼
Based on On-Chain data that I gathered; The Estimated leverage Ratio has reached new high in last two years by passing above 0.2088 and now it's standing at ~0.2116 !
Which means that there're many Over-Leveraged positions that we need to be cleared.
So I would wait for any confirmation above $51800's resistance or any retest into $48000's support..
Also I'll be looking for today's EMAs to react !
But my main levels for now are :
📈 Supports :
$49500
$48200
$45500
$44250
$42000
$40550
📉 Resistances :
$50800
$51800
$53400
$56000
$57800
$59500
Hope you enjoyed the content I created, You can support us with your likes and comments !
Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
Helical_Trades
BTCUSDTRecently we had a bounce above $50796 and it's also broke above Daily EMA200 !
Now it's been rejected because of the hourly candle close below $50796 and it's located one Daily EMA200 and EMA 33/55 cloud.
The main idea is still can be bullish because of the support from $49500's S/R line and the EMAs below.
But any confirmation below $49500 will lead the pair into lower S/R zone and the lower support zone at $46600.
So it's very suggested to have a look on #BTC's movement in weekend and tomorrow's range because it can push the pair above $51800 ( Main resistance RN ).
How it can push the pair above $51800 ? It's simple; Because of the current gap forming in weekend !
📚 Also we can have another overview on the chart By adding the Supply/Demand zones and order-blocks :
As you can see on the chart there was a supply formed below $52000 and it just rejected the pair below the $50600's S/R level !
Now it's located above S/R line; We can say that If we get rejected again, We might retest the lower bullish order-block and the other S/R line at $48000 and continue our path to sweep the higher 2D's FVG and fill the gap above.
- Also we can track our bears into the Wick's mid or lower H12's Demand at $40550 !
So there're many scenarios being activated by losing any level to level.
📊 Then how I would play the chart ? Follow me 👇🏼
Based on On-Chain data that I gathered; The Estimated leverage Ratio has reached new high in last two years by passing above 0.2088 and now it's standing at ~0.2116 !
Which means that there're many Over-Leveraged positions that we need to be cleared.
So I would wait for any confirmation above $51800's resistance or any retest into $48000's support..
Also I'll be looking for today's EMAs to react !
But my main levels for now are :
📈 Supports :
$49500
$48200
$45500
$44250
$42000
$40550
📉 Resistances :
$50800
$51800
$53400
$56000
$57800
$59500
Hope you enjoyed the content I created, You can support us with your likes and comments !
Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
Helical_Trades
🔴 Don't forget to join our channels for FREE Premium stuffs !
TELEGRAM :
t.me/Helical_Trades
Instagram ( Persian - فارسی ) :
instagram.com/helical_trades/
TELEGRAM :
t.me/Helical_Trades
Instagram ( Persian - فارسی ) :
instagram.com/helical_trades/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.