BTCUSD -where do you go?
Updated
Hello Traders,
The situation on the market is clear. Price is moving between 51500 and 47530. Momentum is in the sell zone but is very weak. I will not recommended to sell yet. Keep in mind that situation could be temporary and change any time. Candlestick indicate that we have temporary support on 47530 level (not a zone) and it’s mark on close/open price - grey rectangle).
Red vertical line indicate future price change direction. This one of my fevered techniques.
When the price reach vertical line price should change direction - if it’s low then will go high, if it’s high then should drop.
If the price start getting higher then we have resistance on 49211. Remember that Dojo is always support/resistance level.
Cheers,
Jim
The situation on the market is clear. Price is moving between 51500 and 47530. Momentum is in the sell zone but is very weak. I will not recommended to sell yet. Keep in mind that situation could be temporary and change any time. Candlestick indicate that we have temporary support on 47530 level (not a zone) and it’s mark on close/open price - grey rectangle).
Red vertical line indicate future price change direction. This one of my fevered techniques.
When the price reach vertical line price should change direction - if it’s low then will go high, if it’s high then should drop.
If the price start getting higher then we have resistance on 49211. Remember that Dojo is always support/resistance level.
Cheers,
Jim
Note
Just remember, candle has to close above/bellow rectangle to avoid fake breakout.Cheers,
Jim
Note
Price stop at support 45595 with Doji, confirm with following candle at the close price is another long trade. Perfect stopNote
This current situation. What happened outside rectangle.
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