BTCUSD 1H market update
14 nov was a red day in crypto world. At first we made a new yearly low(5200's). looks like we broke the 2018 descending triangle.
We did this with a sell volume increase. for now 5400 looks like support short term. Now the dust settled a little it's time to take action. My plan for btc is to watch if the BUY volume is picking up. and if we can attack to FIB retracements levels. .382 and .618.
those levels are possible bounce targets and short possibilities. We have to break to .618 level to get a little bullish agian, untill then i stay bearish and we can see another red candle down. First support then is 4800.
Levels to watch:
5400(15nov tiny support)
5800-4800 no mans land last year
5800 could act as resistance now
next support can be found 48xx
We did this with a sell volume increase. for now 5400 looks like support short term. Now the dust settled a little it's time to take action. My plan for btc is to watch if the BUY volume is picking up. and if we can attack to FIB retracements levels. .382 and .618.
those levels are possible bounce targets and short possibilities. We have to break to .618 level to get a little bullish agian, untill then i stay bearish and we can see another red candle down. First support then is 4800.
Levels to watch:
5400(15nov tiny support)
5800-4800 no mans land last year
5800 could act as resistance now
next support can be found 48xx
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.