Bitcoin - Happy Valentine's Day ❤️
Happy Valentine's Day ❤️
Let's see how BTC is behaving.
This is a 1H chart. (Valid for 24 hours)
The Fib retracement shows that the price has been and still is consolidating. We are building good support.
Support levels: $41600 - $42200
Resistance Area: $42800 - $43500
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing NEUTRAL volumes for BTC.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Upper Bollinger Band can push down the value, and the Middle band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is above the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $42600
Let me know your ideas.
Good luck.
Let's see how BTC is behaving.
This is a 1H chart. (Valid for 24 hours)
The Fib retracement shows that the price has been and still is consolidating. We are building good support.
Support levels: $41600 - $42200
Resistance Area: $42800 - $43500
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing NEUTRAL volumes for BTC.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Upper Bollinger Band can push down the value, and the Middle band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is above the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $42600
Let me know your ideas.
Good luck.
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