BTC 4/11/2022
Updated
First thing I have to mention is my channels, the top one to be exact, these past two weeks while we were trying to breach the top channel I thought we broke it with a 46k + new support close but there's a strong line at 48k and the channel deceived me i updated the bottom of the channel to 48k and the top of that channel stays the same at 65k (:
Left chart:
with the start of the month; April 1st, new support came in at 8:30 UTC
The pink/red circle is the newest resistance/support @ 45,300 (orange dots)
It's pretty big also its really close to 46k aka the second strongest line (first strongest line is @ 34k)
( side note... this is just a thought but maybe this is a monthly play, monthly closes above 45.3k then dips to find monthly support with a pull back before months close..... just a thought)
The white circles are the weekly closes…..
The first weekly close looked good, closed on top of 46k + 45.3k then the weekly right after closed horribly @ 42.6k
That close ruined everything
Right chart:
Weekly chart, hitting the top of the ichi cloud…. Really close to the top of the bottom channel
This chart sadly shows a top made at the bottom of the top channel
At the moment we're in and closed in no man zone (46k - 40k). I'd like to see a break of one of the channels before I pick a side…. And I mean a weekly close breach…. Sorry
General:
Look at these support lines
@ 38.5k
@ 36.3k
@ 34k
@ 31k
Look to break these resistance lines
@ 48k
@ 53k
@ 56.2k
@ 65k
+ Because of the new line @ 45.3k I'm sure it will show strength +
I don't have much to say except state facts but this is documentation of how these lines fail too
good luck be safe
Left chart:
with the start of the month; April 1st, new support came in at 8:30 UTC
The pink/red circle is the newest resistance/support @ 45,300 (orange dots)
It's pretty big also its really close to 46k aka the second strongest line (first strongest line is @ 34k)
( side note... this is just a thought but maybe this is a monthly play, monthly closes above 45.3k then dips to find monthly support with a pull back before months close..... just a thought)
The white circles are the weekly closes…..
The first weekly close looked good, closed on top of 46k + 45.3k then the weekly right after closed horribly @ 42.6k
That close ruined everything
Right chart:
Weekly chart, hitting the top of the ichi cloud…. Really close to the top of the bottom channel
This chart sadly shows a top made at the bottom of the top channel
At the moment we're in and closed in no man zone (46k - 40k). I'd like to see a break of one of the channels before I pick a side…. And I mean a weekly close breach…. Sorry
General:
Look at these support lines
@ 38.5k
@ 36.3k
@ 34k
@ 31k
Look to break these resistance lines
@ 48k
@ 53k
@ 56.2k
@ 65k
+ Because of the new line @ 45.3k I'm sure it will show strength +
I don't have much to say except state facts but this is documentation of how these lines fail too
good luck be safe
Note
the D is holding up well, top of the channel still looks like support
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