BTCUSD - Current Statut
Updated
After bouncing 5 days ago on the 1D EMA 150 (aqua curve) + on the long timeframe support ( purple line) + on the first low green lime curve of my new indicator "Boundaries" (which I could explain in a different topic if you are interested, ask for it on the comment), BTC/USD price is currently between two FIB Levels (around 11k and 12,6k) and inside a triangle (between the purple line and the red line).
This Triangle will broke before the end of January.
Th 4H MACD indicator seems to have blown some steam off and we may have a little upward movement in the next hours/days in order to test the red line of the triangle. But I don't think we will break the triangle this time, except if we have a strong news on BTC. To break it BTC have to gather more strength.
To do it, BTC may test the bottom of the triangle (Purple line) or the 1D EMA 150.
If the triangle broke upward we will test those following levels of resistance : 12,6k and then 14,3k. We will also test the black dotted black line of my boundaries indicator.
if the triangle broke down we will test the 1D EMA 150 aqua curve and the lime green curve of my boundaries indicator.
I will keep you updated.
This Triangle will broke before the end of January.
Th 4H MACD indicator seems to have blown some steam off and we may have a little upward movement in the next hours/days in order to test the red line of the triangle. But I don't think we will break the triangle this time, except if we have a strong news on BTC. To break it BTC have to gather more strength.
To do it, BTC may test the bottom of the triangle (Purple line) or the 1D EMA 150.
If the triangle broke upward we will test those following levels of resistance : 12,6k and then 14,3k. We will also test the black dotted black line of my boundaries indicator.
if the triangle broke down we will test the 1D EMA 150 aqua curve and the lime green curve of my boundaries indicator.
I will keep you updated.
Note
As expected we went down and we got a nice bounce on the 1D EMA 150 (aqua curve) + bottom of the triangle (purple line).
Now BTC is currently hitting a fib resistance level.
We will see if it manage to break it. If yes we will test the top of the triangle, if not we will go back to the bottom of the triangle / 1D EMA 150
In my opinion due to all the shorts coming from the BTC future, i think BTC have more chance to test the bottom of the triangle than the top on the next 3 days.
After the 26th (when the future contract will end) BTC may try to break the triangle up if it didn't break down during the next 3days.
Note
Yesterday BTC managed to break the 11k fib resistance and therefore was able to test the top of the triangle as expected if we breaked this resistance.
Now BTC is back on the 11k fib level.
If the 11k support hold (which remains quite unlickly with the sell pressure that our dear CME future bankers will try to put on BTC before the end of the future contract on the 26th) we will have a sideway movement or a retest of the top of the triangle.
But i'm more enlined to think that we will test the bottom of the triangle on the following day.
Note
Bitcoin Bounced on The Fib support and tested the top of the triangle.
Follow closely Bitcoin today it may have some strong movement due to the closing of one Bitcoin Future contract
Note
Here come the selling pressure I was waiting from your dear CME Future Friends!
We should test the bottom of the triangle (purple line) as well as the 1D EMA 150 (aqua curve) and the 1st buying line (lime green curve) from my custom boundaries indicators (I have sligthly changed my algorithm for the boundaries for BTC especially, they remain the same for other coins). Those three curve seems to intersect soon and may form a strong resistance to stop the shorting from CME.
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